Page 116 - ADVANCED TAXATION - Day 1 Slides
P. 116
Special Rules – Fixed Property
Time of supply
Sale between Earlier of:
Supplied by a connected • Date of registration
vendor in the persons @ MV • Date of any payment
course of
furtherance of Only account for VAT
an enterprise Other to the extent of
payment
Purchaser may claim
Not supplied By a non- deemed input to the extent
in the course vendor
of furtherance used for making taxable
supplies to the extent of
of an
enterprise By a vendor payment
If invoice basis – can only
E.g. house used claim once property is
for residential registered (to extent of
purpose payment)
