B

    Value added tax - Input tax - Capital goods scheme - General requirements - Affected assets - 79730

    The capital goods scheme applies to: - computer hardware, ships and aircraft costing at least £50,000 (excluding VAT); and - land and real property with a value of at least £250,000 (excluding...

    Value added tax - Specific situations - Transfer of a going concern - Land and property - 82790

    If the sale would normally be a taxable supply, the buyer and vendor will need to satisfy certain conditions for the transfer to be included as part of a TOGC, as shown in the following table. Vendor's...

    Value added tax - Land and buildings - 84000

    Transactions involving land and buildings can be extremely complex, and there are specific rules which govern when a supply is recognised and the VAT rate which applies. Supplies involving land...

    Value added tax - Land and buildings - Construction of new buildings - 84115

    Construction services provided in the course of construction of a new building are standard-rated unless a specific provision reduces the VAT rate to 5% or 0%. They can never be exempt. The disposal of...

    Value added tax - Land and buildings - Construction of new buildings - Special situations - Builders using own labour - 84495

    Where a builder uses its own labour to provide services, there will be a deemed supply to it in the course of its business and a supply by it (known as a self-supply) insofar as the services:...

    Value added tax - Land and buildings - Land and existing buildings - 84545

    Most supplies relating to land are exempt, including the grant of any of the following: - an interest in or right over land; - a licence to occupy land; or - in relation to land in Scotland,...

    VAT reduced rate evidence log

    VAT reduced rate evidence logWhere you provide construction services relating to buildings, you may be able to charge the 5% reduced VAT rate if you can prove the property meets the necessary conditions.Reduced...

    Eleventh hour delay to reverse charge

    The new reverse charge for the construction industry has been delayed by twelve months, but it is crucial for clients to prepare. How could clients lose a valuable cash-flow advantage next year,...

    Conversion or new building - dodging the standard-rate trap

    If you’re in the building trade not only do you have to contend with HMRC’s construction industry scheme (CIS) but sometimes you need to be a VAT expert too. When can you zero-rate your services...

    VAT savings on building work

    Your builder clients can sometimes charge VAT at 5% instead of 20%. What should you advise them to avoid problems with HMRC, and how could a careful engagement strategy leave both your client...