VAT is a tax on consumption in the UK. It is a tax on the supply of goods or services; unlike income tax or corporation tax, it is not related to business profits.
Supplies of goods or services in construction and property transactions can be taxable (at 20%, 5% or 0%), exempt or outside the scope of VAT. On expensive property-related transactions the addition or otherwise of VAT can have a significant impact.
RICS standards and guidance
- RICS property measurement
- UK commercial real estate agency
- New rules of measurement
- QS and construction standards
- Residential property standards
- Valuation standards
- List of RICS standards and guidance
- RICS standards and guidance archive
- Property users
- VAT liability of property transactions
- Standard-rated supplies of land
Zero-rated supplies of land and buildings
- VAT liability of residential and charitable use property transactions
- Residential development land
- Building designed as a dwelling or number of dwellings
- What is a building?
- What is a building ‘designed as a dwelling’?
- What is a ‘non-residential’ building?
- Building used solely for a relevant residential purpose
- Building use solely for a relevant charitable purpose
- Substantially reconstructed protected buildings
- Change of use or disposing of certificated buildings
- Supply of construction services
- Zero-rated construction services
- Reduced-rate construction services
- Services of consultants
- Miscellaneous matters
- Glossary of VAT terms
Legal issues of VAT
- What is VAT?
- Concept of supply
- Cases where a supply was made
- Cases where no supply was made
- Cases regarding deemed supplies
- Deemed non-supplies
- Profit-sharing agreements, partnerships and joint ventures
- Goods and services
- What are the rates of VAT?
- How does VAT work?
- Scope of VAT
- Place of supply
- VAT Directive refunds
- Business or non-business?
- Tax avoidance
- Registration for VAT
- Time of supply
- Valuation of supplies
- Right to recover VAT
- Collection and administration
- Interaction of VAT with other taxes
- Capital goods scheme
- Local authorities and other government bodies
- Scottish law
- Further information on VAT