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Evidence required to confirm VAT need not be charged on a property sale
My client traded as a pub but this ceased two years ago and the plan is to sell the freehold of the property to a developer. My client opted to tax the property 10 years ago and was expecting to charge VAT on the sale proceeds of £300 000.
The developer has since given my client a form VAT1614D concerning his intention to turn the pub into dwellings but requests by the client’s solicitor for further information about planning applications architect’s drawings etc have drawn a blank.
The buyer has said that this is irrelevant as long as he has an intention to convert the pub into dwellings and my client should just accept the form and not charge VAT on the sale.
The solicitor is cautious by nature and his concern is that if the buyer changes his mind a week after buying the property...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
