Share this content

Opt to tax 1614A - in the modern world

Opt to tax 1614A - in the modern world

Didn't find your answer?

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

Replies (3)

Please login or register to join the discussion.

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

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

Thanks (0)
avatar
By VATs-enough
15th Oct 2021 18:35

You can email the OTT unit nowadays...

Thanks (0)
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 https://www.gov.uk/government/organisations/hm-revenue-customs/contact/v...

Thanks (0)
Share this content