VAT - Land & property

Recently added Tips & Advice

CORONAVIRUS - PROPERTY - 01.10.2020

Coronavirus dilemma: should you opt to tax a sublet?

One of our subscribers rents an “opted property”. Due to staff working from home, they are looking to sublet two floors, one to an associated company and another to an unconnected business. Should they opt to tax these agreements?
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FARMLAND - 01.10.2020

Is there VAT on renting out farmland?

Q. I have agreed to rent a field from a farmer who is unsure whether he must charge VAT. As far as I am aware, as long as he has not opted to tax the land he does not charge VAT. Is this correct? A. The answer here is “it depends”. It will all come down to what the land will be used for under the agreement with the farmer. For example, if he rented out the land to another farmer who wanted to keep sheep there, this would be a zero-rated supply of “grazing rights” rather than a supply of land. ...
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PROPERTY - 27.08.2020

Mixed use of a building: how to deal with the VAT

You own a building that has a ground floor shop and a first floor flat, which you rent out. You opted to tax the property many years ago. But have you been dealing with the VAT correctly and can you save some tax in the future?
Read more

CORONAVIRUS - BUILDERS’ REVERSE CHARGE - 07.07.2020

Rule changes for builders delayed again

The new reverse charge rules for the construction industry will now take effect on 1 March 2021 to help builders affected by the coronavirus crisis. What does the delay mean for your business?
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PROPERTY TRANSFER - 07.07.2020

Gift of property to spouse: the VAT consequences

You own a commercial property that you let to an unconnected business. This has an option to tax in place. You would like to transfer 50% of this to your spouse for income tax planning purposes. What VAT challenges does this create?
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PURCHASING PROPERTY - 01.06.2020

Property seller changes their mind about charging VAT

A subscriber has agreed to buy an empty warehouse. The seller said they will charge VAT on the sale so the subscriber opted to tax the building. The seller has now stated that the sale will be VAT exempt. What does this mean for our subscriber?
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VAT - Land & property

Most read Tips & Advice

FARMLAND - 01.10.2020

Is there VAT on renting out farmland?

Q. I have agreed to rent a field from a farmer who is unsure whether he must charge VAT. As far as I am aware, as long as he has not opted to tax the land he does not charge VAT. Is this correct? A. The answer here is “it depends”. It will all come down to what the land will be used for under the agreement with the farmer. For example, if he rented out the land to another farmer who wanted to keep sheep there, this would be a zero-rated supply of “grazing rights” rather than a supply of land. ...
Read more

CORONAVIRUS - PROPERTY - 01.10.2020

Coronavirus dilemma: should you opt to tax a sublet?

One of our subscribers rents an “opted property”. Due to staff working from home, they are looking to sublet two floors, one to an associated company and another to an unconnected business. Should they opt to tax these agreements?
Read more

PROPERTY - 27.08.2020

Mixed use of a building: how to deal with the VAT

You own a building that has a ground floor shop and a first floor flat, which you rent out. You opted to tax the property many years ago. But have you been dealing with the VAT correctly and can you save some tax in the future?
Read more

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