Regulation 7 Options to tax- landI1

An arrangement which meets the following description is a notifiable arrangement.

A person (“J”) has exercised the option to tax in respect of land, as provided by paragraph 2 of Part 1 of Schedule 10 to the Value Added Tax Act 1994^f1, and that option has not been revoked as described in paragraph 23 or 24 of that Schedule.

Fewer than 20 years have expired since the date on which the option had effect.

A supply is made in respect of the land by—

such that the supply is not a taxable supply, by virtue of paragraph 12(1) of Part 1 of Schedule 10 to the Value Added Tax Act 1994.

In this regulation, “relevant associate” has the meaning given by paragraph 3 of Part 1 of Schedule 10 to the Value Added Tax Act 1994.