Opting to tax changes
Opting to tax changes
- 2001
- HM Customs and Excise Business Brief 8 2 July 2001, (3) .
States how Customs and Excise will implement a Tribunal decision on the option to tax buildings to be converted to dwellings. The tribunal decided that the option to tax did apply to the sale of the building and that the person selling the building has only to consider the intended use of the building by the immediate purchaser. Guidance on this particular type of transaction was formerly unclear but traders should apply this new policy to transactions taking place on or after 1 August 2001. Further information can be gathered from the national advice line on 0845 010 9000.
BUILDING CONVERSIONS
RESIDENTIAL CONVERSIONS
MIXED-USE SCHEMES
VAT RATE
SEH HOLDINGS
TRIBUNAL DECISIONS
States how Customs and Excise will implement a Tribunal decision on the option to tax buildings to be converted to dwellings. The tribunal decided that the option to tax did apply to the sale of the building and that the person selling the building has only to consider the intended use of the building by the immediate purchaser. Guidance on this particular type of transaction was formerly unclear but traders should apply this new policy to transactions taking place on or after 1 August 2001. Further information can be gathered from the national advice line on 0845 010 9000.
BUILDING CONVERSIONS
RESIDENTIAL CONVERSIONS
MIXED-USE SCHEMES
VAT RATE
SEH HOLDINGS
TRIBUNAL DECISIONS