VAT and property transactions

Article by Stanley Dencher, senior technical editor with CCH Information. This article appeared in the October 2004 issue of Tax Adviser. At some point most business persons should consider VAT on property, for example when actually or abortively buying, renting, selling, letting out or working on a property. A transaction can be standard-rated, lower-rated, zero-rated, exempt (but possibly subject to an election), outside the scope of VAT or a mixture. Any VAT properly charged could stick or be promptly or eventually recoverable in whole or part.

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October 2004 by Stanley Dencher