All posts with the topic: commercial real estate

The Chancellor announced that all newly built commercial property completed between 1 October 2013 and 30 September 2016 will be exempt from empty property rates for the first 18 months (up to the state aids limit).  Currently, there is only a 3 month exemption available on empty property rates, and so at first glance, this … Continue reading Empty Property Rates – relief for new commercial buildings announced

HMRC now accepts that the grant of a long lease subject to existing leases is capable of being a transfer of a going concern (TOGC) for VAT purposes, provided that the lessor’s retained interest is small enough not to disturb the substance of the transaction, being the transfer of the lessor’s property letting business to … Continue reading Grant of lease can be a TOGC – HMRC reverses its position