It has been possible for decades to zero-rate the sale of a dwelling in the course of its construction. The point during the construction process from which that is possible is generally referred to as ‘golden brick’. However, there is no binding precedent requiring a brick; in fact, there is no properly reasoned decision at all. In view of modern methods of construction, it is time for this issue to be reviewed at a policy level to ensure the rules are fit for purpose. It could also contribute towards the government being able to meet its stated policy objectives concerning new housing supply.
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It has been possible for decades to zero-rate the sale of a dwelling in the course of its construction. The point during the construction process from which that is possible is generally referred to as ‘golden brick’. However, there is no binding precedent requiring a brick; in fact, there is no properly reasoned decision at all. In view of modern methods of construction, it is time for this issue to be reviewed at a policy level to ensure the rules are fit for purpose. It could also contribute towards the government being able to meet its stated policy objectives concerning new housing supply.
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If you do not subscribe but are a registered user, please enter your details in the following boxes: