Land and buildings ― income ― letting property

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides information about:

•
the general VAT exemption for income relating to land and buildings
•
exclusions from the general VAT exemption for income relating to land and buildings
•
the VAT treatment of other transactions relating to letting land and buildings

For detailed commentary, see De Voil Indirect Tax Service V4.108.

The general VAT exemption for income relating to land and buildings

There is a general VAT exemption for income relating to land and buildings. The general VAT exemption is, however, subject to a significant number of exclusions which are themselves subject to specific conditions. In addition, the general VAT exemption for income relating to land and buildings has VAT recovery implications for businesses that generate such income.

For information about the effect on VAT recovery of generating income that is exempt from VAT, see the Partial exemption ― overview guidance note.

Whether to opt to tax income relating to land and buildings

Generating income from land and buildings that is exempt from VAT can restrict

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Popular Articles

Personal Tax

Inter-spouse transfer

Inter-spouse transferIntroductionWhen a chargeable asset is transferred between two spouses or civil partners, there is a disposal by the transferor spouse / civil partner and an acquisition by the transferee spouse / civil partner for capital gains tax purposes. For simplicity, spouses and civil

14 Jul 2020 12:01 | Produced by Tolley Read more

Personal Tax

Foreign self-employment

Foreign self-employmentTrading in another jurisdiction involves many issues, only some of which involve taxation. Advice should be taken, not only in relation to tax but on the wider business implications. For an overview of the points to consider for certain jurisdictions see Tolley's Global

14 Jul 2020 11:44 | Produced by Tolley Read more

Corporation Tax

Double tax relief

Double tax reliefWhen income arises in a foreign country to a UK resident company and that income is taxable in that foreign country, the UK may give the company relief for the foreign tax by crediting the foreign tax against the UK tax charged on that income. This might include withholding tax on

14 Jul 2020 11:31 | Produced by Tolley in association with Anne Fairpo Read more

��Ӱ��