Commentary

V7.372 Property transactions—introduction

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.372 Property transactions—introduction

Part V7 Tax planning | Commentary

Property transactions

V7.372 Property transactions—introduction

The main focus of the previous section was to consider the VAT issues concerning construction, ie situations where work performed by a builder is zero-rated, standard rated or, in some cases, subject to VAT at the 5% lower rate of tax.

In this section, we consider actual supplies involving property, ie the sale of a freehold or leasehold property and the VAT issues therein – or the letting of property to receive rental income.

There are two main situations to consider:

  1.  

    •     the granting of an interest in or right over land, eg the sale of

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