Minor changes to VATA 1994 Sch 10 (Buildings and Land) and Group 5 to VATA 1994 Sch 8 (Zero-rating) will be made by Treasury Orders with effect from 1 April. Revenue & Customs Brief 08/10 and VAT Information Sheet 02/10 set out the changes arising from discussions with business on 'ways in which the legislation could be further improved and simplified' following the recent rewrite of Sch 10. The changes include simplification of the operation of the option to tax and the six-month 'cooling-off' period and a revised definition of 'housing association'.
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Minor changes to VATA 1994 Sch 10 (Buildings and Land) and Group 5 to VATA 1994 Sch 8 (Zero-rating) will be made by Treasury Orders with effect from 1 April. Revenue & Customs Brief 08/10 and VAT Information Sheet 02/10 set out the changes arising from discussions with business on 'ways in which the legislation could be further improved and simplified' following the recent rewrite of Sch 10. The changes include simplification of the operation of the option to tax and the six-month 'cooling-off' period and a revised definition of 'housing association'.
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