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HMRC has launched a consultation to seek views on the current VAT rules

Reasons to choose Wilson Browne

HMRC has launched a consultation to seek views on the current VAT rules relating to land and property and to explore potential options for simplifying them.

The consultation document HMRC has launched a consultation to seek views t summarises some of the complexities in the VAT treatment of supplies of land and property, including exemption and the option to tax, and considers a number of ideas for potential simplification, ranging from removing the option to tax completely to making certain supplies of land taxable but with an option to exempt.

Interested parties are advised to submit responses to the consultation by 11.45 pm on 3 August 2021.

The consultation document is available here.

Responses to the consultation can be emailed tolandsimplification@hmrc.gov.uk.

Ika Částka

Posted:

Ika Částka

Partner

Ika is Head of the Commercial Property team and has been advising individuals and businesses across Northamptonshire since 1986, specialising in commercial, agricultural and rural property matters for both businesses and individuals.