Following a trial, changes to how HMRC acknowledges an option to tax notification will become “business as usual”.
Supplies of land and buildings are normally exempt from VAT. This means that no VAT is chargeable, but the person making the supply cannot normally recover any of the VAT incurred on their own expenses. However, it is possible to opt to charge VAT on land. HMRC has been trialling a new process for notifying an option.
Source ICAEW
Latest Posts in "United Kingdom"
- United Kingdom – Comprehensive VAT Guide (2026 Edition)
- Athena Luxe Ltd FTT Ruling: Validity of Invoices and HMRC Discretion on Input Tax Recovery
- VAT Zero Rating Allowed for Disability Access Card Hired to Users: Nimbus v HMRC
- HMRC Issues New Guidance on VAT Treatment of Overage Payments in Property Sales
- VAT Zero Rating for Access Card: Nimbus v HMRC – Equipment for Disabled Persons Appeal Allowed
