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bigduckontax, Accountant
Category: Tax
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My limited company is selling a property lease premium.

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My limited company is selling a property lease for a premium. Is VAT chargeable on the total proceeds?
Hello, I'm Keith and happy to help you with your question.
Normally sales of landed property are not subject to VAT as they are exempt supplies. However, if an 'Option to Tax' has been exercised, ie VAT charged on rental income, then the sale proceeds must be subject to VAT also and an appropriate invoice issued.
I do hope I have been of assistance to you with my answer.
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Thank you for your support.
Customer: replied 3 years ago.

Thanks for your prompt replyCustomerguy. Much appreciated

Delighted to have been of assistance.