VCONST08950 | ‘Approved alteration’ of a ‘protected building’ (changes introduced on 1 October 2012): Transitional arrangements

Under the transitional arrangements, zero-rating will continue to apply until 30 September 2015, where the conditions set out below are met.

Approved alterations - the transitional rules apply to works which are within the scope of:

A ‘relevant consent’ applied for before 21 March 2012; or

A written contract entered into before 21 March 2012.

First grant of a major interest in a substantially reconstructed protected building - the transitional rules apply to the first grant of a major interest in a substantially reconstructed protected building where 3/5ths of the work (by cost) relates to approved alterations:

If those approved alterations are within the scope of a ‘relevant consent’ applied for before 21 March 2012 or of a written contracts entered into before 21 March 2012; or

One If 10 per cent of the substantial reconstruction (measured by cost) was completed prior to 21 March 2012.