Due to the introduction of VAT on the construction of commercial or non-domestic buildings and into commercial property transactions, all property specialists must now have a working knowledge of VAT. Written specifically for them, this text is based on the author's own experience as a specialist advisor to property professionals so the approach is essentially practical, addressing the common problems that arise in practice and ensuring effective briefing of tax specialists by property professionals. This book will enable the practitioner: to be aware of the VAT implications on their transactions, to advise clients of the tax issues ingerent in the proposed activity and what appropriate action can be taken, to brief VAT specialists who may be called in for planning advice, and to draft documentation taking account of the tax consequences of the transaction. The text reflects the way property and tax specialist liaise in practice and will help property practitioners to ensure that they use specialists VAT support in the most effective way, reducing the risk of costly errors and penalities.
Due to the introduction of VAT on the construction of commercial or non-domestic buildings and into commercial property transactions, all property specialists must now have a working knowledge of VAT. Written specifically for them, this text is based on the author's own experience as a specialist advisor to property professionals so the approach is essentially practical, addressing the common problems that arise in practice and ensuring effective briefing of tax specialists by property professionals. This book will enable the practitioner: to be aware of the VAT implications on their transactions, to advise clients of the tax issues ingerent in the proposed activity and what appropriate action can be taken, to brief VAT specialists who may be called in for planning advice, and to draft documentation taking account of the tax consequences of the transaction. The text reflects the way property and tax specialist liaise in practice and will help property practitioners to ensure that they use specialists VAT support in the most effective way, reducing the risk of costly errors and penalities.
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Zielgruppe
Maße
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ISBN-13
978-0-7520-0157-9 (9780752001579)
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Schweitzer Klassifikation
Introduction to the basics of VAT; exemption and partial exemption; introduction to VAT and property transactions; election to waive exemption; transfers of property businesses as going concerns; transactions involving insolvent vendors; lease obligations and service charges; indemnities for costs; construction and alteration of buildings; developer's self-supply charge and development leases; capital goods scheme and exempt use of property.
