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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
Businesses often charge VAT on properties they rent out but forget to tell the VATman that they’ve opted to tax. How difficult is it to make a belated notification to undo the damage?
Published 05.06.2014
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
HMRC has confirmed that it will no longer issue letters to confirm it has received an election when you opt to tax land and buildings. How can you ensure you receive proof of the option?
Published 02.02.2023
HMRC has confirmed that it will take 40 working days to respond to queries regarding properties subject to an option to tax. Why might this affect you and how can you minimise the problem?
Published 24.12.2019
If your business rents a property and pays VAT on this, it creates a problem if it’s exempt or partly exempt because you have a restriction in the VAT you can claim. But is there a possible solution?
Published 01.03.2019
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
You want to buy a commercial property and have been advised by the seller that they opted to tax the building with HMRC, so must charge you VAT on the proceeds. But under what circumstances could you
buy the property without being charged VAT?
Published 04.10.2022
It’s not unusual for a business to purchase a building, opt to tax it and then decide that this was the wrong thing to do. Once you’ve opted to tax can you subsequently get out of it?
Published 23.12.2014
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