VAT and Property

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VAT and Property provides a comprehensive guide to VAT as it affects property construction, development and investment, and all other transactions concerning land and buildings. VAT and Property will prove invaluable both to firms of chartered surveyors and practitioners dealing in this area.

Issue 80, November 2020

Note to customers

In addition to general updating please note the following cases have been included

  • Newey (Paul) (t/a Ocean Finance) v Revenue & Customs Comrs [2020] UKFTT 366 (TC), see [1.92L]

  • Vodafone Portugal (Case C-43/19) [2020] STC 1975, see [1.205], [4.104A] and [7.353]

  • Meo (Case C-295/17), see [1.205], [4.104A] and [7.353]

  • The Ice Rink Co Ltd v Revenue & Customs Comrs [2020] UKFTT 350 (TC), see [1.120U]

  • Greenspace (UK) Ltd v Revenue & Customs Comrs [2020] UKFTT 349 (TC), see [7.730AA]

  • Vos Aannemingen BVBA v Belgische Staatv (Case C-405/19), see [8.7D]

  • Mitteldeutsche Hartstein-Industrie AG v Finanzamt Y (Case C-528/19), see [8.7E]

  • The following updates have been included
  • Details of HMRC policy treating payments arising out of early contract termination as consideration for a taxable supply, see [1.205], [4.104A] and [7.353]

  • Details of the temporary reduced rate applied to the provision of hotel and holiday accommodation for the period 15 July 2020 to 31 March 2021 in order to assist the hospitality industry which has been negatively impacted by the COVID-19 pandemic, see [9.112B]

  • Information on the temporary reduced rate of 5% on the admission to certain events for the period 15 July 2020 to 31 March 2021, see [9.470]

  • The following Appendix has been updated:
  • Appendix 5: Notice 742 Land and property, see [A.251]

  • The following Appendix has been added:
  • Appendix 59: Revenue & Customs Brief 12/20 VAT early termination fees and compensation payments, see [A.2951]

  • For subscriptions and filing enquiries, see the customer queries information which is printed at the end of the filing instructions that follow this page.