The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
The table below provides an overview of the types of property transaction where the business is not entitled to opt to tax. If it does opt to tax, the supply will remain exempt from VAT because the option to tax will not be valid.
It should also be noted that HMRC have also introduced some anti-avoidance provisions which 'disapply' the option to tax in certain situations. Further information on the disapplication of the option to tax under the anti-avoidance provisions can be found in the Disapplication of the option to tax - anti avoidance provisions guidance note.
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
To view our latest tax guidance content, sign in to Tolley® Guidance or register for a free trial.