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KAREN MULCAHY explains the impact of proposed VAT changes aimed at listed buildings
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KEY POINTS
- Alterations to certain listed buildings will be subject to 20% VAT.
- Defining relevant charitable and relevant residential properties.
- Possible relief available under the listed places of worship grant scheme.
- Is the alteration a substantial reconstruction?
- The removal of an anomaly will result in increased costs.
Much of the content of this year’s Budget came as quite a surprise to the majority of if not all VAT specialists.
There is normally a period of speculation leading up to the announcements with increases to the registration thresholds a general safe bet; however this year also contained a...
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