This paragraph covers the reduced rate for the renovation and alteration of dwellings in VATA 1994, Sch 7A, Group 7 and the reduced rate for housing alterations in VATA 1994, Sch 7A, Group 10.
Background to the reduced rate for renovations and alterations
In Budget 2001 a number of measures to help regenerate Britain's towns and cities including a cut in the rate of VAT to 5% to encourage renovation and conversion of existing property. This measure was introduced by FA 2001, s 97(1)1 in relation to relevant supplies made on or after 12 May 2001.
Further measures were announced in the 2002 Budget which extended the scope of the provisions to the conversion, and the renovation and alteration, of buildings other than dwellings2.
Scope of the reduced rate for renovations and alterations
The following3 are liable to the reduced rate of VAT at 5%4:
- Ìý
•ÌýÌýÌýÌý the supply, in the course of the renovation or alteration (including extension5) of qualifying
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