That Retail Property Guy
Welcome to That Retail Property Guy, the podcast where retail property expert Gary Marshall champions retail tenants and empowers professionals across the industry. With a career spanning decades, a dozen retailers, and millions in recovered losses for leading UK retailers, Gary shares his unparalleled knowledge to help retail tenants protect their rights, navigate leases, and maximise opportunities often overlooked by landlords, estates and accounts teams.
This podcast is your go-to resource for unlocking the mysteries of retail property. Whether you're an experienced professional, a mid-sized chain, or someone just starting in the industry, Gary’s insights will help you build confidence, avoid pitfalls, and thrive in this complex field.
Through practical advice, real-world examples, and interviews with industry leaders, That Retail Property Guy is dedicated to fostering development and knowledge-sharing for the next generation of retail property experts.
Listen weekly and discover how small insights can lead to big wins for retail tenants everywhere. Start your journey to retail property mastery today!
That Retail Property Guy
VAT on Tenants' Property Transactions
Understanding VAT on Lease-Related Charges and Property Costs: Essential Insights for Retail Tenants
In this episode, we delve into the complexities of VAT (Value Added Tax) on property leases. We examine the current VAT rates in the UK and the Republic of Ireland, and discuss which goods and services are subject to VAT. We look at the implications for landlords, especially those who opt to charge VAT, and explain how they can recover VAT on their expenses. We also explore the significant impact on tenants, particularly small businesses and charities who cannot offset VAT payments. In addition, we cover the importance of proper documentation, the role of 'applications for payment,' and common pitfalls in VAT invoicing and receipts. This episode is essential viewing for anyone involved in commercial property leasing, providing a comprehensive guide to navigating VAT obligations and avoiding costly mistakes.
00:00 Introduction to VAT
00:46 VAT on Leased Property
01:48 Option to Tax: A Landlord's Perspective
02:34 Impact on Tenants
03:24 VAT Documentation and Compliance
08:49 Applications for Payment vs. Invoices
12:19 Common Mistakes and Risks
16:54 Conclusion and Advice
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Go to ThatRetailPropertyGuy for more on Gary Marshall, Smarter Estates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.
For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates
And find Gary and team on LinkedIn for regular updates and community info!
