VATLP24600 - Option to tax anti-avoidance - funding and financing: what do we mean by owner바카라 사이트™s development of the land?
The law refers to it as 바카라 사이트˜the grantor바카라 사이트™s development of the land바카라 사이트™ and defines it by reference to the capital goods scheme. So only a building or that part of a building which does or will qualify as a capital item for its owner falls within the scope of the disapplication measure.
It is important to establish at an early stage that the person who is providing the funds, is in fact, financing the purchase, construction or refurbishment of a building or part of a building which falls to be treated as a capital item for the person granting the lease. If the person is providing the finance towards a building or part of a building which is their own capital item they cannot be financing a development by the person granting the lease. The legal reference is Schedule 10, paragraph 14(5) to (6). This will be the key issue in determining whether a tenant who pays for fit out works has financed the owner바카라 사이트™s development of the building or not.