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VAT Question Of The Week – Compulsory Purchase Orders And VAT

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A Client owns some land that he is required to sell under a Compulsory Purchase Order in connection with the development of HS2. He has opted to tax the site as he paid VAT on the purchase, and when he relocated his business, he began to let it out to a haulage business. The sum offered is substantial and the client is asking about the VAT treatment?

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Disclaimer:- The information contained herein is given by way of general guidance only and no action should be taken solely on the basis of the information contained herein. The Avanti Group (UK) Ltd will be pleased to provide further guidance on the issues, and how they might affect you. No liability is accepted by the firm for any action taken without seeking appropriate professional advice