Commentary

V16.963 VAT—land and buildings – minor changes in relation to the option to tax

Part V16 Forms and other HMRC material

V16.963 VAT—land and buildings – minor changes in relation to the option to tax

V16.963 VAT—land and buildings – minor changes in relation to the option to tax

Information Sheet 8/10, April 2010

This information sheet cancels and replaces VAT Information Sheet 7/10, which contained an error in Annex 1.

1 Who should read this information sheet?

You should read this information sheet if you have opted to tax, or intend to opt to tax, land, buildings or civil engineering works.

2 What is this information sheet about?

It announces some minor changes in relation to the option to tax that come into effect on 1 April 2010.

3 Introduction

We have previously announced three changes in relation to the option to tax that have effect from 1 April 2010 (for details, see Revenue & Customs Brief 8/10 (RCB/8/10, Division V16.3) and VAT Information Sheet 2/10 (V16.958, Division V16.5)). In addition, the following changes will also take place with effect from 1 April 2010:

  1.  

    —     amendments to tertiary legislation within box G, Notice 742A “Opting to tax land and buildings” (conditions for revoking an option to tax after 20 years)

  2.  

    —     amendments to tertiary legislation within box E, Notice 742A “Opting to tax land and buildings” (conditions for ceasing to be a relevant associate of an opter after 20 years)

  3.  

    —     amendments to option to tax forms VAT1614C, VAT161E, VAT1614F and VAT1614G

Details are below.

4 Amendments to box G, Notice 742A

Some amendments have been made to the tertiary legislation within box G, Notice 742A “Opting to tax land and buildings”, with effect from 1 April 2010. Box G sets out the conditions

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