VAT and property: the option to tax

The option to tax (previously referred to as the "election to waive exemption from VAT") plays an important role in property investments and transactions.

This practice note sets out when an option can be exercised, the rules governing options and the effect of an option.

NOTE: This resource is being reviewed in light of the Spring 2017 Budget. For more information, see Spring 2017 Budget: key business tax announcements.

Originally contributed by Tony Beare and Sara Luder, Slaughter and May and updated by Practical Law Tax


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