VAT option to tax: Increased risks on property transactions

HMRC advisory fuel rates

From 1 February 2023, HMRC is reducing its option to tax service which will increase risks for taxpayers, their solicitors and agents when dealing with property transactions, especially when trying to achieve a VAT-free Transfer of a Going Concern (TOGC). Previously, HMRC have provided acknowledgement letters to taxpayers and their agents when an option to […]