Value Added Tax

VAT and housing

Currently, renovations and alterations to residential property that has been empty for at least three years is eligible for a reduced VAT rate of 5%. From 1 January 2008, the minimum period will be reduced to two years.

Contents

	Introduction

	Inheritance tax

	Capital gains tax

	Residence and domicile

	Income tax

	Business taxation

	VAT

	Stamp duties

	Pensions

	Anti-avoidance

This guide is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking action on the basis of the contents of this publication. The guide represents our understanding of the law and HM Revenue & Customs practice as at October 2007, which are subject to change. These proposals may be changed in the Spring 2008 Budget and subsequent legislation.