VAT is notoriously complicated and issues relating to the sale or purchase of land or property and property development are among the most complex.

Because such issues involve substantial sums, getting it wrong on VAT through an error or an oversight can prove very costly.

VAT is not only an issue for individuals or businesses operating in the land or property sectors. Any business buying, selling or leasing property also needs to be aware of the VAT implications.

Considering the VAT consequences as a key part of project pre-planning ensures that VAT efficiency will be maximised, particularly as it can be difficult to correct matters at a later stage.

We provide comprehensive VAT advice on all aspects of land and property for clients ranging from individual homeowners to large commercial developers, including:

  • new build and development
  • conversions and refurbishments
  • DIY housebuilder projects
  • land and property sales and supplies
  • the VAT option to tax
  • supplies between landlords and tenants
  • the VAT capital goods scheme.

We’ll advise on the correct VAT treatment or treatments involved and ensure that any opportunities to mitigate tax liabilities are identified.

For more information on how our chartered accountants can assist with property tax in Bath, Bristol, London, Taunton and Yeovil, please contact us.