A taxing question for housing

Article Abstract:

The local authorities often make statutory agreements with real estate developers who agree to build affordable housing as part of a development. The agreement may have implications for the amount of value-added-taxation (VAT) which is payable by the developer. VAT is not chargeable on land which is opted to the local council from a developer. Supplies for the construction of affordable housing are zero-rated if the development fulfills certain categories, such as all the houses must be self contained and must be wholly built and not converted from existing property.

Public Finance Activities, Tax Deductions & Exemptions, Subdividers and Developers, United Kingdom, Taxation, Public housing, Tax deductions, Housing developers, Housing development, Tax policy

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Property and tax - an update

Article Abstract:

One of the most difficult tax areas that affect the property industry is Value Added Tax (VAT) and several cases illustrate the problems that accompany property development. Three case studies are presented highlighting taxation problems affecting property transactions. They include VAT-exempt property development and avoidance of stamp duty with uncompleted contracts.

Interpretation and construction, Real estate developers, Tax law, Real estate development, Stamp-duties, Stamp duties

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VAT: original tenants and guarantors

Article Abstract:

The VAT implications of the Landlord and Tenant (Covenants) Act 1995 are discussed, including details of the situation before the 1995 Act. The new Act removes tenant liability under lease covenant following a lawful assignment of their interest, although the landlord can require the original tenant to guarantee the performance of an assignee's tenant covenant.

Management, Landlord and tenant, Landlord-tenant relations

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