Consultation tracker
Buildings and Land: Rewrite of Existing Tax Law Consultation
- Published: 05/12/05
- Deadline for responses: 28/02/06
A consultation has been launched on Schedule 10 to the VAT Act 1994. It concerns the VAT legislation concerning buildings and land, particularly the option to tax certain supplies of property which would otherwise be exempt under Group 1 of Schedule 9 to the VAT Act 1994.
The consultation has been prompted by the need to address the increased length and complexity of the Schedule as a result of numerous anti-avoidance measures. The aim is to simplify the language and structure without changing underlying tax policy. Following consultation, it is intended to make any legislative changes in the course of 2006. However, HMRC is seeking to use this opportunity to make some minor amendments to the existing rules aimed at improving practical administration of the tax.
The consultation has been prompted by the need to address the increased length and complexity of the Schedule as a result of numerous anti-avoidance measures. The aim is to simplify the language and structure without changing underlying tax policy. Following consultation, it is intended to make any legislative changes in the course of 2006. However, HMRC is seeking to use this opportunity to make some minor amendments to the existing rules aimed at improving practical administration of the tax.
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