TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

VAT Treatment of Deeds of Variation to Leases

Revenue has issued a tax briefing which deals with the VAT treatment of deeds of variation to leases. The briefing sets out by way of example the VAT treatment that applies when the substance of existing lease agreements are varied.

In particular the brief looks at the VAT implications of varying the term or length of the lease, reducing the rent in return for removal of a break clause, the partial surrender of a lease, and adding more area to the lease. The briefing including the examples is reproduced here.