.png)
.png)
The option to tax rules cause common problems to many businesses. NEIL WARREN considers some of them and their solutions
KEY POINTS
- The basic principles of the option to tax.
- The requirements of notification.
- Mixed-use properties.
- Overriding the option to tax.
- Property and transfers of a going concern.
Eighteen years on but it still causes confusion! No I am not talking about the complicated Duckworth-Lewis method of scoring that decides which team wins a cricket match in the event of rain! I am referring to the 'option to tax' rules in the VAT world that allow a business to make an election to HMRC so that certain supplies involving land and buildings become taxable rather than exempt.
In this article I will address some of the common queries that I receive from practitioners in relation to the option to tax. For practitioners it is fair to say that the subject is...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
