Publisher's Synopsis
In June 1988, the European Court of Justice declared that the UK could no longer zero rate commercial and industrial land transactions and construction. Designed for landowners, contractors, developers and their professional advisers, this new third edition shows how to minimize the financial consequences of this new legislation.;Focusing on the practical implications of the recent provisions, this new Longman Intelligence Report assess the legislation and its meaning aiming to enable the reader to plan in the most tax efficient way.;Fully up-to-date with the new VAT legislation included in the Finance Act 1989, the text aims to identify all possible tax planning opportunities and traps. Its coverage includes: the option to charge VAT on rents; the sale of property and VAT charged; exemptions for residential and charitable purposes; the new structures for reducing capital gains tax and stamp duty; the increasing use of carve-out arrangements as they take the place of sale and leaseback transactions; the developer's situation for contracts before and after 21 June 1988; demolition and the commencement of construction; and the recovery of VAT paid.;The author, Patrick C. Soares, has written a number of other tax publications including "Land and Tax Planning", "Trusts and Tax Planning", and "Estate Planning - 101 Techniques".
