- A 2017 OTS review recommended simplifications to the VAT treatment of land and property. Issues include the potential broadening of the standard rate.
- Following an initial consultation, the government has agreed that the options previously discounted by the OTS would not achieve their aims, but it will continue to improve published guidance on a number of issues.
- Given the potential consequences of changes in this area, the government has also agreed to engage further with stakeholders on any changes to the law.
- Timing: the timeframe and scope of any further changes is not yet clear.
Resources (click to open)
- VAT: Simplification of the land and property rules (HMRC consultation (May 2021), response paper (November 2021))
