The Chancellor of the Exchequer announced today as part of the Budget the removal of the VAT exemption for grants of facilities for the self storage of goods and the removal of the VAT zero rate for supplies of services and materials in connection with approved alterations of protected buildings. This will have effect from
The Government have taken this step to address inconsistencies in the treatment of these supplies and to prevent VAT avoidance that exploits the VAT exemption for supplies of self storage. To protect the public finances from artificial avoidance of the change in VAT liability, the Finance Bill 2012 will contain anti-forestalling legislation to ensure that the VAT liability changes are fully effective.
Anti-forestalling legislation will apply to these types of supplies made on or after
Whilst the attached anti-forestalling legislation will apply for supplies treated as taking place on or after
Further information on the anti-forestalling legislation is available at: www.hmrc.gov.uk.