Short answer: Two changes matter most: fuller disclosure in air space transfers, and VAT reverse charge on covered construction supplies. Both await detailed rules.
Key points
- Air space reform applies prospectively after consultation.
- Reverse charge moves VAT accounting to the buying business for covered supplies.
- Neither has a published start date yet.
Budget 2027 measures
Budget 2027Rules pendingProposed reform
Taxation of air space transfers
New rules require fuller disclosure of the total price in development deals involving the sale of air space.
Proposed rules; implementation not confirmed.
Speech printed p. 42 · PDF p. 46
Budget 2027Rules pendingProposed reform
VAT reverse charge in construction
For covered construction transactions the buying business, not the supplier, accounts for VAT.
Proposed rules; implementation not confirmed.
Speech printed p. 43 · PDF p. 47