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
If you or your business own a commercial building, there may come a point where you want to extend or possibly demolish it. What happens in these situations if you have opted to tax it?
Published 05.02.2018
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
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
When businesses opt to tax a property there’s often confusion as to what exactly is covered by the option and how far it extends. As it’s important to get this right, what’s the position in reality?
Published 30.03.2015
One of our subscribers is about to buy the freehold of a new office for £250,000 plus VAT. They will trade from the commercial property and not rent it out or sublet it to tenants. What deceptively
simple tips can save them money?
Published 02.04.2021
Once you opt to tax a commercial property you probably know that the option remains in force for 20 years. However, there are ways to avoid the VAT charge. What’s involved?
Published 27.08.2015
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
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
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