The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note sets out when zero-rating can apply to the sale or grant of a long lease in newly constructed buildings.
For an overview of the liability of supplies of land more broadly, see the Overview of VAT and property issues guidance note.
Detailed commentary on the legislation and case law can be found in De Voil Indirect Tax Service V4.233.
Zero-rating can apply where the following conditions are met:
VCONST03100; VATA 1994, Sch 8, Group 5
These conditions are considered further in this guidance note.
The types of property covered by this zero-rating are:
VATA 1994, Sch 8, Group 5, Item 1
For commentary on the meaning of ‘dwelling’ in this context, see the Buildings and construction ― definition of dwelling guidance note.
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