VAT: Residential property: fractional shares | Practical Law

VAT: Residential property: fractional shares | Practical Law

The First-tier Tribunal has held that the sale of fractional shares in residential property was subject to VAT at the standard rate as the asset acquired was similar to the provision of hotel accommodation.

VAT: Residential property: fractional shares

Practical Law UK Articles 5-633-7989 (Approx. 3 pages)

VAT: Residential property: fractional shares

by Norton Rose Fulbright LLP
Published on 29 Sep 2016
The First-tier Tribunal has held that the sale of fractional shares in residential property was subject to VAT at the standard rate as the asset acquired was similar to the provision of hotel accommodation.