TOGC ― land and property

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note looks at land and property issues associated with TOGCs, specifically:

•
the rules that apply to ‘standard-rated’ land and buildings transferred as part of a TOGC
•
property businesses

For an overview of TOGCs more broadly, see the TOGC ― overview guidance note.

In-depth commentary on the legislation and case law can be found in De Voil Indirect Tax Service V2.226.

What are the rules when transferring standard-rated land as part of a TOGC?

Additional conditions apply to certain land and buildings transferred as part of a TOGC. If these conditions aren’t satisfied, then the land and buildings will not be included within the TOGC and instead VAT will need to be charged on the supply of land and buildings. It should be emphasised that this does not affect the rest of the transfer which may qualify for the TOGC treatment provided it meets the conditions described in the TOGC ― conditions guidance note.

To establish if a transfer of land and property must be treated as a TOGC,

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

Corporation Tax

Enterprise investment scheme tax relief

Enterprise investment scheme tax reliefOverview of EIS tax reliefsThe enterprise investment scheme (EIS) offers significant tax reliefs to encourage individuals to invest money in qualifying shares issued by qualifying unquoted companies. The scheme is designed to encourage investment in small,

14 Jul 2020 11:36 | Produced by Tolley Read more

Value Added Tax

Reverse charge ― buying in services from outside the UK

Reverse charge ― buying in services from outside the UKThis guidance note covers the reverse charge that applies to services that have been bought in from outside the UK. For an overview of VAT and international services more broadly, see the International services ― overview guidance note. For

15 Dec 2020 14:02 | Produced by Tolley Read more

Trusts and Inheritance Tax

Gifts with reservation ― overview

Gifts with reservation ― overviewIntroductionA gift with reservation (GWR) arises when an individual ostensibly makes a gift of his property to another person but retains for himself some or all of the benefit of owning the property. The legislation defines a gift with reservation with reference to

14 Jul 2020 11:48 | Produced by Tolley Read more

UU��ֱ��