In this issue we take a look at several issues which businesses in the construction and real estate sectors should be aware of, such as, the VAT trap for unsold dwellings, finance and funding in the current climate, registration of overseas entities as well as Making Tax Digital and a whole host of other topics.
In this issue…
The VAT trap - unsold dwellings
Builders and developers should be aware of a potential VAT trap (and opportunity) when temporarily letting unsold dwellings!
The reality for businesses raising funds in the current economic climate
Since the start of the global pandemic, firms have had to contend with inflation hitting a 30-year high, a once-in-a-generation energy crisis, the outbreak of war in Ukraine, interest rates undergoing the largest single increase since 1995 and the pound falling to a record low against the dollar. The list of challenges for businesses seems to grow almost daily.
Property Registrations on overseas entities
The register of Overseas Entities came into force with effect from 1 August 2022 and requires that previously anonymous beneficial owners of UK property and landowners be identified in a publicly available register.
Making Tax Digital
As we know, the nation is moving ever closer to the start of Making Tax Digital (MTD). From 1st April 2022, all businesses registered for VAT are making digital submissions, and from 6th April
2024 this will extend to landlords and businesses whose aggregate annual turnover exceeds £10,000.
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If there are any topics within this issue you would like further information on, please do get in touch.
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Real Estate Matters Autumn 22
