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VAT changes are good news

‘A change in VAT policy by HMRC is good news for certain property businesses according to leading accountants.

HMRC has announced a change in VAT policy in relation to the conditions for there to be a transfer of a going concern.

One source comments: “This is good news for any business that has paid VAT on the purchase of a property business they have not been able to fully reclaim, as there may now be an opportunity to apply for a VAT refund.

“More importantly, the decision means that it may also now be possible to obtain a refund of stamp duty land tax.”‘

Source: The Birmingham Post

Myfanwy Neville

Partner, Property and Construction

T +44 (0)20 8922 9376
E myfanwy.neville@bkl.co.uk

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