The European Court of Justice has decided that the UK must impose value added tax on commercial and industrial land property development transactions. This new second edition discusses possible tax planning opportunities and the implications of the EEC ruling. It advises how to plan in the most tax efficient way and how to avoid and recover VAT charges, provides guidance on the European Court decision and on what taxpayers must do before the 1st April 1989. It also includes the recent cases "Neville Russell" and "Gleneagles" and discusses the EEC 6th Directive. Worked examples are used to explain complicated case law and there is also coverage of up-front payment, stakeholder schemes, faith construction arrangements, using Margrie Holdings, granting leases, subsales and exempt supplies, Option Article 13B, project management arrangements and joint ventures.
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Höhe: 290 mm
Breite: 220 mm
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978-0-85121-463-4 (9780851214634)
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Schweitzer Klassifikation
Part 1 VAT and property transactions: basic features of VAT and property transactions; property companies and the VAT partial exemption rules; the "Neuvale factor"; self-imposed Estoppel; Furniss v Dawson and VAT. Part 2 Property transactions vatable at 15per cent: which property transactions are vatable at 15per cent; project managers, development partnerships and employees; landlord and tenant situations and VAT; damages (damages paid to landlord for Breach of Covenant); transfer of business as a going concern. Part 3 Zero rated supplies: construction of new buildings; common development schemes and VAT. Part 4 Exempt transactions: exempt land disposals; vatable supplies connected with exempt land disposals. Part 5 The European Court decision, the sixth Directive and what taxpayers must do before the 1st April 1989: The European Court of Justice decision and the UK government's proposals; what taxpayers must do before the 1st April 1989 - pre 21 June 1988 contracts, pre completion leases, early sale, payments up-front - payments with bank guarantee, faith construction payments, dormers' payments.
