Search results
You searched in
Business Advice Directory
all "Opt to tax a property at the right time"
related advice.There are 10 results
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
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
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
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
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
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
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
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
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
Search all items in entire site