The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of the VAT treatment of the sale or grant of a long lease in a protected building.
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 legislation and case law can be found in De Voil Indirect Tax Service V4.232C and V4.235.
Zero-rating can apply to the sale or grant of a lease where the following conditions are met:
VATA 1994, Sch 8, Group 5, Notes 13, 14, Group 6; VCONST10100; Notice 708 , para 10.2.2
A ‘protected building’ is a building which is either:
In addition, after reconstruction work it must either:
VATA 1994, Sch 8, Group 6, Note 1
**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.