In normal circumstances, businesses should make their notification to HMRC within 30 days after the decision to opt to tax is made. However, as a result of the crisis, HMRC have extended notification period for businesses who made the decision to opt to tax UK land/property between 15 February 2020 and 31 May 2020.
How to submit an option to tax notification?
The option to tax form (VAT 1614A) can be submitted by email to HMRC’s Option to Tax (email@example.com) with an electronic signature. Evidence that the signature is from a person authorised to make the option on behalf of the business will need to be included as part of the submission.
Our specialist team in indirect taxes are already assisting clients deal with the COVID-19 crisis, therefore, if you need assistance with submitting a tax notification or would like to discuss the tax position of your property during this difficult time more generally, please reach out to any of the authors.