It is a truth universally acknowledged, that a new dwelling constructed and sold, must be zero rated. Jane Austen probably chose not to write this sentence because it is not true.
A variety of cases have demonstrated that the VAT rules relating to property are opaque, and the judge in one case was roundly condemnatory: ‘With the greatest reluctance … we are accordingly forced by an absurd (and perhaps none too carefully drafted) law into an absurd decision, which flies in the face of common sense, of equity and of the ‘social purpose’ which is supposed to underlie and inform zero rating.’
Source Wrighthassal
Latest Posts in "United Kingdom"
- UK Implements EPR Scheme: Producers Pay Fees for Packaging Waste Management Starting 2025
- Rachel Reeves Considers VAT Adjustments Amid Budget Challenges Despite Labour’s Pledge
- Cayman Implements New Taxes on Imported Vehicles
- Tribunal Rules Nitrous Oxide Not Zero-Rated Food in Telamara VAT Case
- HMRC Updates VAT Notice 700/18: New Guidelines for Bad Debt Relief Claims