A to Z of land and buildings terminology

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

The following list, while not exhaustive, provides an overview of the meanings of commonly used terms that a business and / or its adviser may encounter when dealing with a land and property transaction:

Term	Definition
Alienation clause	Clause restricting the tenant’s right to assign a lease or sublet a property
Beneficial occupation	The occupation of land to the benefit or advantage of the occupier
Beneficial owner	A party that has title to the land for their own benefit
Charge certificate	This is the certificate issued by the Land Registry to the mortgage lender showing the charge on the Land Registry
Charge	This is an interest in land which secures payment of a debt
Chattels	Moveable personal property
Completion	This is the final step which leads to the transfer of ownership of a property. The purchaser receives the title documentation in exchange for payment of the purchase price
Completion monies	This is the sum payable to the vendor to complete the purchase of the property
Completion

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Popular Articles

Personal Tax

VAT on property disposals

VAT on property disposalsThis guidance note provides an overview of the VAT treatment of selling property that is located in the UK. The UK includes Great Britain, Northern Ireland and the territorial sea of the UK. The sale of any land or building located outside the UK is outside the scope of UK

14 Jul 2020 13:57 | Produced by Tolley Read more

Corporation Tax

Double tax relief

Double tax reliefWhen income arises in a foreign country to a UK resident company and that income is taxable in that foreign country, the UK may give the company relief for the foreign tax by crediting the foreign tax against the UK tax charged on that income. This might include withholding tax on

14 Jul 2020 11:31 | Produced by Tolley in association with Anne Fairpo Read more

Personal Tax

Self assessment ― estimates and provisional figures

Self assessment ― estimates and provisional figuresIf the taxpayer does not have sufficient information to enable them to complete the tax return in the time allowed, they should include either a best estimate or a provisional figure. The taxpayer should not either leave a box blank or enter

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

UU��ֱ��