Land and Property Development

As with any property development, VAT is a complex issue that needs to be dealt with correctly and efficiently.

Consider the VAT consequences of your proposed property transaction prior to completion to ensure that you do not suffer any unnecessary VAT loss. This is important given that the value of such deals is usually a significant amount for any business.

  • You could lose VAT if your purchase a building for more than £250k + VAT and change its use or sell it within 10 years.
  • You could end up paying VAT back if you purchase a building as part of a business and don’t ask the vendor about its previous use or VAT recovery.
  • If you make sales that do not attract VAT, you could suffer a VAT loss if you purchase or sell a property.
  • Planning - for example, consider use of the TOGC rules to achieve VAT cash flow and actual SDLT savings. Planning is key, and even if it just mitigates VAT timing it can assist deals

It is vital to get the issues right before transactions take place as it is difficult to rectify matters post-completion. We regularly provide technical updates and case studies relating to this complicated and important area of VAT regulation. Don't hesitate to contact us if you would like help with any aspect of land and property issues.

Don't forget our legendary free helpline which is available to all on 0800 077 4604 or complete our contact form at the side of the page with any other queries.

Latest Testimonials

  • "Tamara was my first port of call when I needed a VAT expert. She is extremely knowledgeable, dependable, thorough and efficient. I would recommend her personally to any business needing this kind of assistance."

    Sarah Sillars OBE, CEO at Institute of Advanced Motorists, IAM - April
  • "The VAT People have been used by Cosmo Leisure for many years. We have found them to be very thorough and professional in all that they do.
    They have looked after some very complicated tax issues for us, always meeting deadlines at short notice and pursuing successful claims."

    Keith Lee, Cosmo Leisure Group - April
  • "Tamara has advised a number of our clients on VAT-related matters and her advice has always been timely and relevant. She is also willing to discuss matters on an informal basis and could not be more helpful. I recommend her and her firm whole-heartedly."

    Adam Hymes, Commercial Property Partner at Kuit Steinart Levy LLP - April
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Get the vital information you need quickly and easily by watching one of our guidance videos - topics include VAT assessments and penalties, VAT for charities, and maximising VAT recovery.

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