Buying Commercial Property · glossary
A seller's choice to charge VAT on the sale of its building. Without it, the sale of a commercial building more than three years old is exempt. Holmfield warrants that it has not opted, and clause 7.4 puts any VAT that proves due inside the price. Contract 7.2 · Chapter 7
Explained in Chapter 7, The Sale Contract, of Buying Commercial Property.
Also explained in Commercial Leases.
The answer came from Holmfield's replies to the standard commercial enquiries. The sale of a commercial building more than three years old is exempt from VAT. The exception is where the seller has made an option to tax, a choice to charge the tax on its building. Then tax at 20% is added to the price.Read Chapter 7, The Sale Contract →
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