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VALUE ADDED TAX: IMPLICATIONS OF THE EUROPEAN COURT JUDGMENT FOR SURVEYORS AND PROPERTY MANAGERS

Property Management

ISSN: 0263-7472

Article publication date: 1 April 1988

89

Abstract

A new property VAT regime coming into force on 1st April, 1989, is expected to have a major impact on commercial property development and management. The Government proposes to change the VAT rules relating to commercial property in the 1989 Finance Bill following a judgment in the European Court of Justice (on 21st June) that certain UK VAT rules were inconsistent with European Law. Although the broad outlines of the new rules are fairly clear much detail remains to be defined. A consultation process will be followed (in December) by draft legislation. Until then the final details of the new rules remain a matter for speculation. The VAT rules relating to residential property will remain largely unchanged. The main changes for commercial property can be summarised as follows:

Citation

McLellan, D. (1988), "VALUE ADDED TAX: IMPLICATIONS OF THE EUROPEAN COURT JUDGMENT FOR SURVEYORS AND PROPERTY MANAGERS", Property Management, Vol. 6 No. 4, pp. 299-302. https://doi.org/10.1108/eb006700

Publisher

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MCB UP Ltd

Copyright © 1988, MCB UP Limited

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