jeffrey
11-07-2008, 11:22 AM
This is the Schedule that deals with VAT on Land and Buildings. It has already been amended several times and so is quite messy.
From 1 June, it will have effect in a re-written and supposedly clearer style. The law will not alter in any significant way, however, except for a separate change allowing an Option to Tax [i.e. to charge VAT on commercial land/buildings, otherwise exempt] to be revoked after 20 yrs.
From 1 June, it will have effect in a re-written and supposedly clearer style. The law will not alter in any significant way, however, except for a separate change allowing an Option to Tax [i.e. to charge VAT on commercial land/buildings, otherwise exempt] to be revoked after 20 yrs.