VAT on Property Transactions

The basics of value added tax; exemption and partial exemption; basics of VAT on land transactions; election to waive exemption; the special rule for a transfer of a business as a going concern; insolvency; particular problems of mortgagees in possession and law of property act receivers; sales and first letting of newly constructed, converted or altered business; VAT standard rated construction services; VAT zero rated construction services; protected (or listed) buildings; service charges; leases - rent free; leases - cash inducements; leases - surrenders, variations and assignments; charges to tenants of landlord's costs; the capital goods scheme; developmental leases. Appendices: Income and Corporation Taxes Act 1988 s839; specimen VAT invoice for property transactions; reproduction of appendix B of C&E notice 700/9; TOGC clause for property sale agreement; specimen certificates; VAT zero rated building material; local VAT offices.