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Vat & Developing A Property Business

 
John Davison Indirect Tax Partner Baker Tilly continues our series on the various VAT problems of developing a property business. In this article he covers the move to being a property investment company
 
To understand the position of Albion it is necessary to consider its portfolio. This should be the first action for any advisor when advising a client (see Table 1). Of course a proper examination of a portfolio would be more detailed than this.
 
Table 1: Current Portfolio
 
During the recent VAT visit Customs & Excise have indicated that they may require a special method for the extension as the standard method is not giving a fair and reasonable recovery rate. It is used mainly...
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