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VAT issues involving land and property can be particularly complex and, given the amounts often involved in property transactions, the financial implications of getting the VAT treatment 'wrong' can be very serious indeed. We would always recommend consulting a VAT Specialist before proceeding with a property transaction - often completed within a couple of hours, such a review can identify potential pitfalls and advise in respect of the VAT consequences of a particular course of action, giving you full awareness of the VAT implications along with recommendations on how to proceed with assurance.

We cover all areas of land and property VAT. Three of our firm's particular specialisms are 1) the liability of construction supplies (standard, reduced and zero rating); 2) Construction Industry Reverse Charge; and 3) the VAT Option to Tax. 

The Option to Tax can be a particularly problematic area. By default, the rental, leasing and sale of property is exempt from VAT. However, it is possible to 'waive' this exemption by electing an 'Option to Tax' on the property. Only certain types of property are eligible for the Option to Tax. 

Our VAT Specialist and Director Iain Johnston is highly experienced in navigating the complexities in respect of the Option to Tax, particularly in relation to disputes with HMRC (e.g. belated notifications; scope and consequences of the Option; revocations; tax points; Options made in error; Transfers of Going Concern; etc), and advising clients in clear and understandable language. Iain has worked on cases involving individual properties worth up to £4million, along with smaller commercial units/offices/shops worth £100,000 or less; and practically everything in between - all cases receive the same level of attention to detail and clear VAT advice, providing you with the confidence that the VAT implications of your property transaction are fully understood. 

If we can be of any assistance regarding an Option to Tax, construction, or other property VAT issue, please do not hesitate to get in touch at info@expertvat.co.uk