VAT is charged on supplies of goods and services. Goods and services for this purpose include land or interests in land, but land apart from recently constructed commercial property is mostly either exempt or zero rated1, unless the option to tax land has been exercised2.
Generally, a supply will only attract VAT if it is made for consideration3 and in the course of a business. However, there are instances where supplies not made for any consideration and not in the ordinary course of a business can attract VAT.
Important examples of these “deemed” supplies are where goods forming part of the assets of a business are transferred or disposed of by or under the
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:17