HMRC Guidance: Opting to tax land and buildings (VAT Notice 742A)

What happens when you opt to tax (charge VAT on) land and buildings, when you need permission and when to tell HMRC about your decision.

Contents

• 1. Overview
• 2. The scope of an option to tax
• 3. Supplies not affected by an option to tax
• 4. How to opt to tax
• 5. Permission to opt to tax
• 6. Option to tax and VAT registration
• 7. Responsibility for opting to tax
• 8. Revoking an option to tax
• 9. Input tax
• 10. Time of supply (tax point)
• 11. Transfer of a business as a going concern
• 12. Cancel your VAT registration
• 13. Anti-avoidance measures
• 14. Real Estate Election (REE)
• Annex 1
• Annex 2
• Your rights and obligations
• Help us improve this notice
• Putting things right
• How HMRC uses your information

Source gov.uk

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