Land and buildings — buying and selling — invoices and payments | Tax Guidance

Land and buildings — buying and selling — invoices and payments

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides information on the VAT treatment of invoices and payments when buying and selling land and buildings.

Detailed commentary on invoices is included in De Voil Indirect Tax Service V3.511 to V3.529.

Summary of points to consider

The table below provides a summary of points to consider when an invoice or payment is issued or received in relation to a sale of land or buildings.

Points to consider	Relevant sections of this guidance note
Where is the property located?	Place of supply
Is VAT due?	Applying the correct VAT treatment
If VAT is due, when must it be accounted for?	The tax point rules
Will the seller retain a right to receive one or more payments in the future?	Overage arrangements

Place of supply

The sale of land and buildings located outside the UK is outside the scope of UK VAT, but may be subject to tax in another country. For information

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Corporation Tax

Real estate investment trusts (REITs)

Real estate investment trusts (REITs)Introduction to REITsA real estate investment trust (REIT) is in fact not a trust at all, it is a company which qualifies for special tax treatment under CTA 2010, Part 12. REITs are similar in many ways to collective fund vehicles (such as unit trusts) in that

14 Jul 2020 13:04 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax, part of AMS Group Read more

Value Added Tax

UK VAT invoice requirements

UK VAT invoice requirementsThis guidance note provides details of the information that must be shown on a valid tax invoice. Businesses supplying goods and services that are liable to the standard or reduced rate of VAT are required to issue a tax invoice to another VAT registered person.If the

14 Jul 2020 13:46 | Produced by Tolley Read more

Employment Tax

Non-business expenses

Non-business expensesIntroductionIn order for an expense to be tax deductible it must be incurred because of an employee’s employment. Any non-business related expense is, therefore, not relievable except in some very particular circumstances.This guidance note deals with three separate issues. The

14 Jul 2020 12:16 | Produced by Tolley Read more

��Ƶ