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

Personal Tax

Payment of tax due under self assessment

Payment of tax due under self assessmentNormal due dateIndividuals are usually required to pay any outstanding income tax, Class 2 and Class 4 national insurance, and capital gains tax due for the tax year by 31 January following the end of the tax year (ie 31 January 2025 for the 2023/24 tax year).

14 Jul 2020 12:52 | Produced by Tolley Read more

Corporation Tax

Research and development (R&D) relief ― overview

Research and development (R&D) relief ― overviewThis guidance note provides an overview of the research and development (R&D) tax reliefs for companies.See the Research and development tax relief summary diagram which summarises the R&D tax relief.See also Simon’s Taxes D1.401.For a factsheet which

14 Jul 2020 12:22 | Produced by Tolley in association with Will Sweeney Read more

Owner-Managed Businesses

Capital allowances on cars

Capital allowances on carsSummary of capital allowances on carsThe current capital allowance rates applicable to cars are as follows:Pool typeDescription of carRateLegislationMain rate poolNew and unused cars with CO2 emissions of 50g/km and below 18%CAA 2001, s 104AASecondhand cars with CO2

14 Jul 2020 11:08 | Produced by Tolley Read more

Autumn Budget 2024

��Ƶ