Option to Tax / VAT

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There are special VAT rules that apply to commercial properties. If you wish to recover VAT on any costs relating to commercial property e.g. repairs / redevelopment, you will need to opt to tax the land for VAT.

However, once you have opted to tax the land, all sales / leases of the land will be subject to VAT. If you do not opt to tax the land, those supplies will be exempt from VAT.

Our services include:

  • Advising on whether it is beneficial for your business to opt to tax its commercial property
  • Preparing and filing options to tax with HMRC
  • Transfers of a Going Concern (TOGC)
  • Real estate elections
  • Partial Exemption calculation if you provide mixed supply (I.e. Exempt supply and Standard Rated supply)
  • Liaise with HMRC for any enquiries

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