Opting to tax can reduce VAT costs for property developers, landlords, and owners. But it’s not all plain sailing. We’ve highlighted two of the common traps that businesses fall into and how you can
escape them.
Published 15.02.2011
It’s not uncommon for a business to acquire a property and start charging VAT on the rents but to forget to tell HMRC that it’s opted to tax the property. What do you need to do to make a belated
notification?
Published 03.11.2015
As a property owner/investor you’ve heard a great deal about the so-called option to tax. If you do opt to tax a property it can have a significant effect on your VAT position. What does an option
cover and how long does it last?
Published 04.12.2013
If you own commercial properties it’s important to opt to tax at the right time to avoid arguments with HMRC and possible loss of input tax. What are the key points to remember?
Published 23.03.2017
You may decide to opt to tax a commercial property so that you can recover the VAT on your costs. However, there are certain circumstances in which the option can be “disapplied” and you can’t
reclaim the VAT. What are they?
Published 29.05.2012
Property businesses receive many different payments, some are taxable, some exempt and some outside the scope altogether. So what’s what as far as the VATman is concerned?
Published 05.03.2012
You own a commercial property and have opted to tax it. When you come to sell, the purchaser says your option is disapplied and you have to pay the VAT back on the purchase price. What’s going on?
Published 05.09.2011
If you own commercial property and want to claim the VAT back, you’ll need to “opt to tax” it. But what does this really mean? How should you go about it and what does it cover?
Published 04.04.2012
Opting to tax a property can have far reaching results so you need to be sure that you choose the right method in order to get the best results. So what are the pitfalls and the alternatives?
Published 06.02.2013
If your business buys or rents out a non-residential property, you may want to make an option to tax election to save VAT. There is often confusion between forms VAT1614A and VAT1614H - which one
must be used and when?
Published 02.09.2022