With the relief provided by section 18B falling away, it is imperative that property developers understand the impact on their VAT liability should they be letting out property on a temporary basis. The change in use can cause significant VAT output that can cause cash flow problems.
This session will focus on the VAT implications for property developers, specifically focusing on the VAT liability caused by this change in use
After this session delegates should be able to identify circumstances in which a property developer would be liable for deemed VAT output and should be able to calculate the amount due.
• Should Property developers register for VAT?
• VAT on commercial property VS VAT on residential property
• Change in use when property is temporarily let
• Section 18B Temporary relief
• Value of supply for VAT purposes
• Time of supply for VAT purposes
• Impact on property developers
Property developers and accountants and auditors for property developers.
