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Keeping It Real Estate News and Trends in UK Real Estate, Disputes and Planning Law

Tag Archives: Lease variation

Posted in Real Estate News

HMRC change their practice on VAT treatment of lease variations

HMRC has today published Revenue & Customs Brief 11 of 2020 (RCB), concerning the VAT treatment of lease variations.  The RCB represents a change in the way HMRC have treated lease variations for VAT purposes where the landlord reduces the rent and the tenant agrees to give up or vary their break right.  Although HMRC