Take a ride in a fiscal theme park
Language: English Series: Estates Gazette ; (0816) 26 April 2008, 144-146(3)Publication details: 2008Subject(s): Summary: First of two articles discussing the option to tax land and buildings. (See L143439 for part two). This has recently been simplified under the 2008 Budget. Includes a brief summary of these changes. Explains that although there may be initial advantage in claiming tax exemption, VAT incurred on services cannot then be reclaimed from HMRC. Outlines advantages, including the ability to opt on a building by building basis. Disadvantages include the inability to revoke the decision within 20 years, and the exclusion of types of property from the option. Considers the history and future of the option to tax.| Item type | Current library | Call number | Copy number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|---|
| Journal article | London Journal article | L143377 (Browse shelf(Opens below)) | 1 | Available | 143377-1001 |
First of two articles discussing the option to tax land and buildings. (See L143439 for part two). This has recently been simplified under the 2008 Budget. Includes a brief summary of these changes. Explains that although there may be initial advantage in claiming tax exemption, VAT incurred on services cannot then be reclaimed from HMRC. Outlines advantages, including the ability to opt on a building by building basis. Disadvantages include the inability to revoke the decision within 20 years, and the exclusion of types of property from the option. Considers the history and future of the option to tax.