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HMRC has launched a call for evidence seeking views on the VAT rules relating to land and property and how they could be simplified.
The document summarises some of the complexities in the VAT treatment of supplies of land and property, including exemption and the option to tax. It also considers various ideas for potential simplification. These range from removing the option to tax entirely to making some supplies of land taxable but with an option to make others exempt.
HMRC says it would welcome other suggestions not considered in the document, including those that may have only become possible since the UK’s departure from the EU.
Responses should be emailed to landsimplification@hmrc.gov.uk by 3 August 2021.
