The Value Added Tax (Buildings and Land) Order 1999
This Order amends Schedule 10 (Buildings and Land) to the Value Added Tax Act 1994 with effect from 10th March 1999 so as to extend the scope of the anti-avoidance restriction in paragraph 2(3AA) on use of the election to waive exemption. The restriction now extends to a development of land which will result in a capital item for the purpose of the Capital Goods Scheme as well as land or buildings which are already capital items. The Order does not, however, affect any grant of an interest in, right over or licence to occupy land made before 26th November 1996 or one made before 30th November 1999 if made pursuant to an agreement in writing entered into before 26th November 1996 which fixed the terms of the grant (a relevant pre-commencement grant within the meaning of section 37 of the Finance Act 1997).