Many new housing projects are not getting off the ground despite local authorities granting planning permission for the land targeted for development.
This is often because the builders do not have the ready cash to pay for the land and/or the landowners’ price expectations (even allowing for overage) are unrealistic.
Add VAT liability to the mix, and the situation can become even more complicated, because there are potential VAT pitfalls that developers and landowners need to be aware of.
I have worked closely with lawyers acting for a landowner in a new housing development project, guiding the client through, and with a satisfactory outcome for all those involved.
If you are a developer, or landowner, or if you are a lawyer representing parties involved in land sales, please get in touch for advice on VAT.