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Joshua
Joshua, Lawyer
Category: Law
Satisfied Customers: 25358
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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I am in the process of buying some woodland from a leisure

Resolved Question:

I am in the process of buying some woodland from a leisure group. It has never been used by the group for any leisure/commercial purpose. It is a local wildlife site (LWS) and secondary ancient woodland.
I have been worried that VAT wold be added to the purchase price, but a clause in the Contract Agreement states :
The Seller warrants that it has not and will not elect to exercise an option to tax for VAT in respect of the property.
Can we be confident that this statement in the contract is legally binding, and that we will not receive any request from HMRC for VAT on the sale ?
Submitted: 2 years ago.
Category: Law
Expert:  Joshua replied 2 years ago.
Hello and thank you for your question. I will be very pleased to assist you. I'm a practising lawyer in England with over 10 years experience.

May I ask if your solicitor (if you are using one) has included a warranty as to the option to VAT in the contract providing that the seller warrants that he has not exercised an option to tax for VAT please?
Customer: replied 2 years ago.

Thank you Yes our solicitor has done that, and the vendors have now inserted another clause which will further protect us, so I think we are okay now.

Much appreciate your help

Expert:  Joshua replied 2 years ago.
That is ideal. Providing you have a clause in your contract that provides a warranty as to option to tax that is sufficient. If you wish you could go one step further and ask for a futher warranty that he will not do so after exchange of contracts but this is not necessary as it should amount to a potential repudiatory breach of contract on the sellers part to subsequently do so after exchange if the above term is included.I hope you purchase goes forward smoothly. Please let me know if I can assist any further.
Joshua, Lawyer
Category: Law
Satisfied Customers: 25358
Experience: LL.B (Hons), Higher Prof. Dip. Law & Practice
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