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Opt to tax 1614A - in the modern world

Opt to tax 1614A - in the modern world

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My company client is purchasing a commercial property.  There were two tenants although one has now vacated so the intended use is one tenant - the same tenant! - to continue and my client will then use the remaining 2/3rds of the property/land for it's own business use.

Ordinarily I would know this is a TOGC because of buying a property with tenants in. I still think it's a TOGC so please confirm if I'm wrong.

We then move to the easy question. The last time I did a 1614 form was when tinternet was in it's infancy....paper forms!!! How do we submit 1614 "elections" to HMRC nowadays. It still looks like complete a pdf, print and post to Cochrane Street in Glasgow. Have HMRC not moved on? No way, no REQUIREMENT, even to do this only online or "please email the form".

thank you

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By atleastisoundknowledgable...
15th Oct 2021 17:35

As far as I’m aware, you are correct.
Tax for the 21st century.

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By VATs-enough
15th Oct 2021 18:35

You can email the OTT unit nowadays...

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Jason Croke
By Jason Croke
16th Oct 2021 10:42

Is it a ToGC if you are not carrying on the same business as the seller?

You only intend to rent half the property, the other half you intend to own/occupy for your own purposes/not rent.

Not saying it isn't a ToGC, just be sure the conditions are met re. carrying on same kind of business.

Email address is here

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