VCONST04700 - Zero-rating major interest grants after a non-residential conversion: ‘person converting� a building
In general, the guidance at VCONST03500 applies in the same way to this section as it does to that section.
»Ê¹ÚÌåÓýapp only distinction is in relation to the grant of a building where the conversion has not been completed.
When considering whether a person has ‘person constructing� status, a person has that status when works progress beyond foundation level (VCONST03550). For conversions, real and meaningful works must have been carried out before they have ‘person converting� status. Judgement should be used to decide whether works are real and meaningful.