Take a ride in a fiscal theme park
Buckett, Alan
Take a ride in a fiscal theme park - 2008 - Estates Gazette (0816) 26 April 2008, 144-146(3) .
First of two articles discussing the option to tax land and buildings. (See L143439 for part two). This has recently been simplified under the 2008 Budget. Includes a brief summary of these changes. Explains that although there may be initial advantage in claiming tax exemption, VAT incurred on services cannot then be reclaimed from HMRC. Outlines advantages, including the ability to opt on a building by building basis. Disadvantages include the inability to revoke the decision within 20 years, and the exclusion of types of property from the option. Considers the history and future of the option to tax.
VALUE ADDED TAX ACT 1994
England and Wales--1543-
Take a ride in a fiscal theme park - 2008 - Estates Gazette (0816) 26 April 2008, 144-146(3) .
First of two articles discussing the option to tax land and buildings. (See L143439 for part two). This has recently been simplified under the 2008 Budget. Includes a brief summary of these changes. Explains that although there may be initial advantage in claiming tax exemption, VAT incurred on services cannot then be reclaimed from HMRC. Outlines advantages, including the ability to opt on a building by building basis. Disadvantages include the inability to revoke the decision within 20 years, and the exclusion of types of property from the option. Considers the history and future of the option to tax.
VALUE ADDED TAX ACT 1994
England and Wales--1543-