Once an option to tax has been made, it must be notified to HMRC within 30 days. However, this has been relaxed due to covid 19 and where a decision is made to opt to tax a property between 15 February 2020 and 30 June 2020, the time limit to notify HMRC is 90 days.
Source: Deeks
Latest Posts in "United Kingdom"
- Deliberate VAT Misclassification on Hotel Extension: Extended Time Limit Upheld in Nellstar Properties Case
- VAT on Hampers: Lidded Wicker Baskets Ancillary to Food and Drink, Not Separate Supply
- Scottish Private Schools Warned: No Bailouts Amid Financial Strain and New VAT Policy
- Understanding VAT Penalties: When They Apply, How They’re Calculated, and Ways to Reduce Them
- EV Industry Outraged as HMRC Appeals VAT Ruling on Public Charging, Maintaining Two-Tier System
