"You're doing it wrong"Chthonic confesses: "Only last year did I discover why the lids of things in tubes have a recessed pointy bit built into them." Tell us about the facepalm moment when you realised you were doing something wrong.
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Scaryduck LIKES EGG, Thu 15 Jul 2010, 13:23)
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I used to get so confusedNow I understand...
A sale of a commercial property as a freehold is standard rated for VAT, whereas selling a residential property is zero-rated if its freehold or a long lease (of more than 21 years) and the lease is granted by the constructor, or if its a renovated property that's been empty for moe then 10 years, otherwise it's VAT exempt. Unless it's a commercial lease and there's an option to tax. I think.
Easy, really. Don't know why I used to make such a meal of it.
(, Fri 16 Jul 2010, 12:55, Reply)
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