VAT loophole closed
VAT loophole closed
- 1989
- Daily Telegraph 26/6/89 p29 Times 27/6/89 p27 (2) .
The Government has closed a loophole in the Finance Bill whereby certain organisations such as charities , financial institutions and private hospitals could avoid paying VAT on new development . The City has protested, claiming that such a move could lead to the cancellation of many redevelopment projects, damaging the building industry, and the departure of foreign companies from Britain.
NEW BUILD
The Government has closed a loophole in the Finance Bill whereby certain organisations such as charities , financial institutions and private hospitals could avoid paying VAT on new development . The City has protested, claiming that such a move could lead to the cancellation of many redevelopment projects, damaging the building industry, and the departure of foreign companies from Britain.
NEW BUILD