Industry comment, updates and news from the Websters team.

Potential VAT savings for landlords

Thursday, July 31st, 2014 in Commercial, Landlord, Managing Agent, News, Residential

HM Revenue & Customs has finally confirmed that the surrender of a lease subject to tenancies can constitute a “transfer of a going concern” with the result that no VAT is payable. This will result in stamp duty land tax(SDLT) savings for landlords accepting surrenders and in certain cases it will be possible to reclaim SDLT that has been overpaid on historic surrenders.

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