Tax Insider Tip: Buying A Commercial Property At Auction
If a commercial property owner has opted to tax a property they will normally have to charge VAT on any supplies they make of it, including its sale at auction. When selling an opted property in (say) London, the stamp duty land tax (SDLT) is added on top of the VAT inclusive price.
In October's issue of Tax Insider, Andrew Needham looks at the VAT consequences of buying a commercial property at auction.
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