- Charities may be subject to income tax and corporation tax on profits from property development.
- Charities may be subject to capital gains tax if the property was developed and sold as part of a trading activity.
- VAT treatment in property development depends on various factors such as property type, transaction nature, and VAT status of parties involved.
- Charities may be able to recover VAT on costs related to property development, but eligibility and process vary.
- Certain property transactions may be exempt from VAT or eligible for reduced rates.
- Charities should seek professional advice to understand tax and VAT implications and maximize financial benefits.
Source: dains.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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