- The government has proposed a new VAT zero-rate for sales of bare land intended for social housing.
- If introduced, qualifying registered social housing providers could buy and take title to land before construction reaches “golden brick” stage, while preserving VAT relief.
- This would remove the current need to build to foundation level to access zero-rating, reducing reliance on complex chain or tripartite transactions.
- The change is intended to speed up social housing delivery, reduce administrative burden and costs, and allow earlier access to development funding.
Source: freeths.co.uk
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.
