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VAT to hit land banks

Language: English Series: Estates Gazette ; no 8907, 18/2/89 p4Publication details: 1989Subject(s): Summary: A report by Richard Ellis claims that under the proposed legislation dealing with the imposition of VAT on property, development sites already owned by developers could also be subject to VAT if the developer does not elect to charge VAT on the sale or rental of the buildings.

A report by Richard Ellis claims that under the proposed legislation dealing with the imposition of VAT on property, development sites already owned by developers could also be subject to VAT if the developer does not elect to charge VAT on the sale or rental of the buildings.