The legislative provisions for VAT on property transactions introduced on 1 July 2008 included the introduction of a Capital Goods Scheme and specific rules for determining the VAT status of a sale; notwithstanding the new rules, some concepts were retained and transitional measures were adopted. An understanding of the pre- and post-1 July 2008 rules and the transitional rules is required when advising on the VAT treatment of a property transaction, and this can make it a challenging task. One of the key concepts,  that endured, is the concept of development, which is considered below. This is followed by an analysis of the rules and practicalities surrounding lettings, disposals of property subject to lettings, and the provision of accommodation for different purposes, which can result in irrecoverable VAT costs. This article is based on a paper presented at the ITI Annual Conference in April 2024,  the full text of which can be found on TaxFind.