Webb29 juni 2024 · TOGC’s involving land and property are complex and advice should be taken to ensure the TOGC provisions apply and all the necessary conditions are being met by … Webb8 juni 2024 · Interesting case, £17m of VAT, ouch!. As you state, the SDLT will be an additional problem. From reading the case even some parties were uncomfortable with what they were doing here, wanting letters of assurance and some of the "fake" tenants had required their initial lease payments to be refunded.
37-450 SDLT and TOGCs Croner-i Tax and Accounting
Webb1 apr. 2024 · Were any SDLT reliefs claimed on the grant of the Lease and, if applicable, ... (‘TOGC’) and therefore outside the scope of VAT. 19.3. If enquiry 19.2 does not apply, is the Transaction standard-rated for VAT purposes as a result of either: Webb17 apr. 2013 · Previously, TOGC treatment was denied on the grant of a new lease. Any interest in the land retained by the transferor prevented the transfer of a property rental … d. flowers
Stamp Duty Land Tax on Commercial Property - Pinsent Masons
Webb23 nov. 2012 · This is a very welcome development and we hope it will be followed by similar TOGC extension to lease surrenders. It may now be possible to reclaim VAT and SDLT on VAT previously paid. Webb12 aug. 2024 · When you buy a business or part of a business as a transfer of a going concern (TOGC), the vendor does not charge VAT, as it is not treated as a supply of … Webb27 juni 2024 · Conclusion. OpCo/Propco structures can provide significant benefits, but clients should have a proper understanding and appreciation of both the tax and non-tax issues before setting up such a structure and incurring capital or revenue expenditure on the property. Where possible, advisers should take the opportunity to discuss property … churn signification