New Forest Ribbon
New Forest

01/06/2020

Option to tax on land and buildings

HMRC have extended the time limit from the date the decision to opt was made. This now applies to decisions made between 15 February and 30 June 2020.
The form that this is notified on is VAT1614A.
A decision to opt to tax land and buildings, normally requires notification within 30 days by either:
• printing and sending HMRC the notification, signed by an authorised person within the business
• emailing a scanned copy of the signed notification
Social distancing in response to coronavirus has made these rules challenging to follow.
HMRC have temporarily changed the rules to help businesses and agents to 90 days from the date the decision to opt was made.

For further information on Options to Tax, please contact Alan Rolfe on 023 8046 1235.

Latest Tweets

Discretionary funding is available from local councils for businesses who meet a set list of criteria. There are a number of exclusions, and businesses can find out more via their local council websites http://ow.ly/D3co50BRbld

From the 1 January there will be new rates for customs duties and businesses will need to decide how they account for import VAT when making a customs declaration http://ow.ly/oZjR50BRb7E

Let’s Talk

Why not arrange a FREE consultation and find out what we can do for your business.