Budget 2008 > Indirect tax > Land and buildings - option to tax
 

Land and buildings - option to tax

New legislation, which rewrites the VAT rules relating to the option to tax, will take effect on 1 June 2008.

The rewritten legislation is primarily designed to be easier to understand but also introduces a number of minor changes to improve the practical administration of the option to tax and its revocation (after 20 years).