Land and buildings ― income ― letting property

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides information about:

•
the general VAT exemption for income relating to land and buildings
•
exclusions from the general VAT exemption for income relating to land and buildings
•
the VAT treatment of other transactions relating to letting land and buildings

For detailed commentary, see De Voil Indirect Tax Service V4.108.

The general VAT exemption for income relating to land and buildings

There is a general VAT exemption for income relating to land and buildings. The general VAT exemption is, however, subject to a significant number of exclusions which are themselves subject to specific conditions. In addition, the general VAT exemption for income relating to land and buildings has VAT recovery implications for businesses that generate such income.

For information about the effect on VAT recovery of generating income that is exempt from VAT, see the Partial exemption ― overview guidance note.

Whether to opt to tax income relating to land and buildings

Generating income from land and buildings that is exempt from VAT can restrict

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