VAT on Property: Law and Practice (2nd Edition)

VAT on property is a notoriously tricky area of tax law, and one in which mistakes can prove to be very costly. This new edition of VAT on Property: Law and Practice by Dermot O'Brien and Gabrielle Dillon spells out the VAT pitfalls to be avoided and the related opportunities that are available for all players in the property scene: developers, investors/landlords, tenants, vendors or purchasers.

Legislation governing the application of VAT to property transactions changed fundamentally in 2008. The first edition of this book was published in 2009. The years following saw a significant reduction in the number and value of property transactions. Since then, economic conditions in Ireland have improved and this has fostered a resurgent property market. This fact, and the introduction of the Value-Added Tax Consolidation Act 2010, prompted demand for an up-to-date commentary on VAT law and practice applying to property transactions. This second edition is designed to satisfy that demand.

VAT on Property: Law and Practice is an invaluable guide for anybody engaged in, or advising on, property transactions. VAT on property is a notoriously tricky area of tax law, and one in which mistakes can prove to be very costly. This book spells out the VAT pitfalls to be avoided and the related opportunities that are available for all players in the property scene: developers, investors/landlords, tenants, vendors or purchasers. Written in a reader-friendly style and avoiding overly technical language when possible, this book contains many practical examples, several of which are drawn from the authors’ experience of complex issues that they encounter in their professional practice.

Contents

1. Outline of the VAT and Property Provisions
2. VAT and Property Legislation
3. The Capital Goods Scheme (CGS)
4. The Supply of Immovable Goods
5. The Supply of Transitional Property
6. Lettings of Immovable Goods
7. The Players and their Positions

• Appendices: Information from the Revenue Commissioners

For further information, contact publishing@charteredaccountants.ie or telephone on (+353) 01 637 7204

The Authors

Dermot O’Brien is an AITI Chartered Tax Adviser (CTA) and Principal of Dermot O’Brien & Associates, a leading independent VAT consultancy firm. He has over 30 years’ experience working in VAT, having commenced his career with the Revenue Commissioners. Dermot is a former president of the Irish Tax Institute. He has written and lectured extensively on VAT, both in Ireland and overseas, and advises foreign governments on taxation matters. Dermot currently advises a wide range of clients, including leading corporations and other professional advisers, on all aspects of VAT.

Gabrielle Dillon is an AITI Chartered Tax Adviser (CTA) and a Director of Dermot O’Brien & Associates. With over 18 years’ experience in VAT, she previously worked as a VAT Manager for BDO. Gabrielle has lectured in VAT for the Irish Tax Institute as well as other professional bodies. She is the regular author of VAT Cases & VAT News in the Irish Tax Review and is a member of its Editorial Board.