TOGC ― land and property

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note looks at land and property issues associated with TOGCs, specifically:

•
the rules that apply to ‘standard-rated’ land and buildings transferred as part of a TOGC
•
property businesses

For an overview of TOGCs more broadly, see the TOGC ― overview guidance note.

In-depth commentary on the legislation and case law can be found in De Voil Indirect Tax Service V2.226.

What are the rules when transferring standard-rated land as part of a TOGC?

Additional conditions apply to certain land and buildings transferred as part of a TOGC. If these conditions aren’t satisfied, then the land and buildings will not be included within the TOGC and instead VAT will need to be charged on the supply of land and buildings. It should be emphasised that this does not affect the rest of the transfer which may qualify for the TOGC treatment provided it meets the conditions described in the TOGC ― conditions guidance note.

To establish if a transfer of land and property must be treated as a TOGC,

Continue reading the full document

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

TAKE A FREE TRIAL NOW

Popular Articles

Owner-Managed Businesses

Class 4 national insurance contributions

Class 4 national insurance contributionsWhat is Class 4 NIC?Class 2 and Class 4 national insurance contributions (NIC) are paid by self-employed individuals and partners in a partnership on their profits arising within the UK. This guidance note considers Class 4 contributions. For Class 2

14 Jul 2020 11:13 | Produced by Tolley Read more

Personal Tax

Self assessment ― amendments and corrections

Self assessment ― amendments and correctionsOnce a self assessment tax return has been filed, both HMRC and the taxpayer (or the agent) has the right to make changes to the return. There are different time limits depending on whether it is a correction by HMRC or an amendment made by the

14 Jul 2020 13:37 | Produced by Tolley Read more

Corporation Tax

Overseas property businesses for companies

Overseas property businesses for companiesOverviewReal estate income is generally taxed where the property is located; the UK tax treaties generally allow the jurisdiction where the land is located to tax income from the land.Therefore, a UK company with overseas property may be subject to tax in

14 Jul 2020 12:22 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax, part of AMS Group Read more

��Ƶ