Value Added Tax Act 1994 (c. 23)

SCHEDULES

[F1 SCHEDULE 10 U.K. BUILDINGS AND LAND

Textual Amendments

F1 Sch. 10 substituted (with effect in accordance with art. 1(2) of the amending S.I.) by The Value Added Tax (Buildings and Land) Order 2008 (S.I. 2008/1146), arts. 1(1), 2 (with Sch. 2)

PART 1 U.K. THE OPTION TO TAX LAND

Supplementary provisions U.K.

Timing of grant and supplies U.K.

31. (1) This paragraph applies if—

(a) an option to tax is exercised in relation to any land,

(b) a grant in relation to the land would otherwise be taken to have been made (whether in whole or in part) before the time when the option has effect, and

(c) the grant gives rise to supplies which are treated for the purposes of this Act as taking place after that time.

(2) For the purposes of this Part of this Schedule, the option to tax has effect, in relation to those supplies, as if the grant had been made after that time.]