V6.321 Property development—introduction
Property developments can broadly be split into two main categories, commercial and residential/charitable.
Commercial developments can be exempt, liable to VAT at the standard rate because of the option to tax, or liable to VAT at the standard rate in their own right. Commercial developments cannot normally be zero-rated.
The sale, lease or letting of residential/charitable buildings is, for the most part exempt from VAT but in certain circumstances can be zero-rated (see V6.322 at 'Property development—zero-rated transactions' below). Charitable buildings may be standard-rated as commercial property if they are for business purposes (except in the case of a village hall or similar providing
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Web page updated on 17 Mar 2025 13:55