- 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 previous government 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 previous government also agreed to engage further with stakeholders on any changes to the law. It is not yet clear how the current government intends to take this forward.
- 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))
