VAT on Property – Common Pitfalls (Mar 23)
Category: Tax | Duration: 1hr | Tag: VODIRE2319 | Type: Video | Speaker: Mairead Hennessy | Date: 28/03/2023 11:30
Course Details
The VAT on Property rules are varied and complex. 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.
Mairéad Hennessy covers practical considerations in each of the following areas during this session:
- Implications for the purchaser when Transfer of Business applies to a property sale
- Implications for the purchaser when the Joint Option to Tax is exercised on a property sale
- Potential Waiver of Exemption traps on property sales
- Considerations specific to connected party property sales
- Services connected to property and the VAT place of supply rules
CPD Course Speaker
Taxkey
Mairead Hennessy
Mairéad Hennessy has over sixteen years’ experience delivering tax advice in both practice and industry tax roles.
Mairéad is passionate about providing SMEs and their owners with specialized and proactive tax advice. In 2016 Mairéad set up Taxkey as a tax advisory practice specialising in providing bespoke tax solutions on matters such as retirement planning, business succession, corporate group structuring, inheritance tax, property transactions and VAT.
Mairéad represents CCAB-I on TALC (indirect taxes), which is the main forum for making representations between the Irish Revenue and practitioners on tax administration in Ireland. The CCAB-I is the Consultative Committee of Accountancy Bodies of Ireland and is an umbrella group of the Irish accountancy profession.
Mairéad is passionate about providing SMEs and their owners with specialized and proactive tax advice. In 2016 Mairéad set up Taxkey as a tax advisory practice specialising in providing bespoke tax solutions on matters such as retirement planning, business succession, corporate group structuring, inheritance tax, property transactions and VAT.
Mairéad represents CCAB-I on TALC (indirect taxes), which is the main forum for making representations between the Irish Revenue and practitioners on tax administration in Ireland. The CCAB-I is the Consultative Committee of Accountancy Bodies of Ireland and is an umbrella group of the Irish accountancy profession.