CPDStore Ireland

The VAT on Property rules are varied and complex. Also, the values involved in property transactions can be substantial. A detailed analysis of the VAT history of any commercial property needs to be undertaken in advance of its sale in order to determine the appropriate VAT treatment of the sale. Property sales can have potentially costly consequences for both purchasers and vendors and the VAT treatment of property sales differs vastly from the supply of other goods and services. 

For this reason, it is very important that accountants and other professionals involved in property transactions have a good understanding of the rules and their application to specific scenarios. 

The webinar will cover practical considerations in each of the following areas: 

• Determining when a property sale is automatically chargeable to VAT
• The operation of the Capital Goods Scheme (CGS) and how changes to the use to which a property is put over its VAT life, impacts the CGS Implications for the purchaser when the Joint Option to Tax is exercised on a property sale
• The landlord’s decision whether to charge VAT on rents and potential implication on the CGS
• VAT implications on the surrender / assignment of leases
• VAT treatment of professional fees relating to property transactions

Delegates will gain a detailed understanding of common practical VAT considerations and pitfalls that arise in commercial property transactions.  This material will enable accountants and tax advisors to have knowledgeable conversations with their clients and advise on the VAT treatment of the common scenarios covered in the webinar.  

This session will be of particular interest to Accountants, Tax Advisors, Owners of Commercial Property, Solicitors working in conveyancing.

Course Level: Advanced