It is important that the VAT status of a property being purchased is considered at an early stage of acquisition. For larger FHL complexes, it is likely that the business will be VAT registered and that the VAT position needs to be considered. In such cases the VAT issues are generally those encountered on the purchase of a VAT-registered business and are not peculiar to FHLs; there is nothing particularly noteworthy to comment on here other than the need to consider how customer deposits are being treated on the business transfer and their VAT treatment (see 1.13).

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