New Forest


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

Both the Academies Accounts Direction (AAD) and Academies Financial Handbook (AFH) were issued in June by the ESFA. We have produced our summary fact sheet on both for you in July!

Investors who wish to take funds from their Lifetime ISA (LISA) to support their income during the pandemic can benefit from a reduction in the withdrawal charge.

The charge, was reduced from 25% to 20% from March 6 and will apply until April 5, 2021.

Let’s Talk

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