Don’t say we didn’t warn you!

The HMRC have confirmed that VAT will be added to CON29, coinciding with the launch of the new forms.

Following last year’s angry VAT debate on the ‘tampon tax,’ it seems as though we haven’t heard the end of VAT increases. Despite Jaffa Cakes, edible cake decorations and ostrich meat all being tax free (yes really!), the HMRC have confirmed that VAT will be added to CON29. This will be coinciding with the launch of the new CON29 forms on the 4th July 2016. The 20% charge will be applied to CON29 R and O reports from the 4th of July. On a brighter note, the LLC1 element will remain non-vatable.

Although this means a general increase in price on council searches, it will depend on the local authority on how much impact this could have. Some local authorities may decide to lower their prices with the increase of VAT. However others may decide to incorporate the VAT into their prices, resulting in a price increase. For the time being, this remains to be seen.

For some time now The Law Society have been discussing a revision of their CON29 and CON29O forms but finally the go-live date has been issued as the 4th July 2016. The aim of this revision is to increase the amount of information contained within a Local Search (official or personal) such as community infrastructure levy (CIL) and assets of community value. If you would like to see a sample of the new form, please click here to request one.

This article was submitted to be published by Conveyancing Data Services as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

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