November 12, 1999




Securities and Exchange Commission
Filer Support, Edgar
Operation Center, Stop 0-7
6432 General Green Way
Alexandria, VA 22312

       Boston Financial Tax Credit Fund VIII, A Limited Partnership
       Report on Form 10-QSB for Quarter Ended September 30, 1999
       File Number 0-26522


Gentlemen:

Pursuant to the  requirements of Section 15(d) of the Securities
Exchange Act of 1934, filed herewith is a copy of subject report.


Very truly yours,


/s/Stephen Guilmette
Stephen Guilmette
Assistant Controller




TC8-Q2.DOC



<PAGE>


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB


(Mark One)

[ X ]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

For the quarterly period ended    September 30, 1999
                              --------------------------------------

                                       OR

[   ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934


For the transition period from                    to

For Quarter Ended  September 30, 1999      Commission file number  0-26522
                   -------------------                            ---------

                  Boston  Financial Tax Credit Fund VIII, Limited  Partnership
                 (Exact name of registrant as specified in its charter)


                   Massachusetts                   04-3205879
      (State or other jurisdiction of      (I.R.S. Employer Identification No.)
       incorporation or organization)


   101 Arch Street, Boston, Massachusetts                    02110-1106
  (Address of principal executive offices)                    (Zip Code)


Registrant's telephone number, including area code             (617) 439-3911
                                                        -----------------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
                                   Yes X No .


<PAGE>


                      BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)

                                TABLE OF CONTENTS


<TABLE>
<CAPTION>
<S>                                                                                         <C>


PART I.  FINANCIAL INFORMATION                                                              Page No.

Item 1.  Financial Statements

         Balance Sheet - September 30, 1999 (Unaudited)                                          1

         Statements of Operations (Unaudited) - For the Three and Six
            Months Ended September 30, 1999 and 1998                                             2

         Statement of Changes in Partners' Equity (Deficiency) (Unaudited) -
            For the Six Months Ended September 30, 1999                                          3

         Statements of Cash Flows (Unaudited) - For the Six
            Months Ended September 30, 1999 and 1998                                             4

         Notes to Financial Statements (Unaudited)                                               5

Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations                                                     6

PART II - OTHER INFORMATION

Items 1-6                                                                                        8

SIGNATURE                                                                                        9

</TABLE>


<PAGE>




                      BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)
                                  BALANCE SHEET
                               September 30, 1999
                                  (Unaudited)
<TABLE>
<CAPTION>



Assets

<S>                                                                                              <C>
Cash and cash equivalents                                                                        $      57,593
Investments in Local Limited Partnerships (Note 1)                                                  22,011,844
Marketable securities, at fair value                                                                 1,574,439
Other assets                                                                                            18,047
                                                                                                 -------------
       Total Assets                                                                              $  23,661,923
                                                                                                 =============

Liabilities and Partners' Equity

Liabilities
     Accounts payable to affiliate                                                               $     345,760
     Accrued expenses                                                                                   27,297
                                                                                                 -------------
       Total Liabilities                                                                               373,057

General, Initial and Investor Limited Partners' Equity                                              23,302,207
Net unrealized losses on marketable securities                                                         (13,341)
                                                                                                 -------------
Total Partners' Equity                                                                              23,288,866
                                                                                                 -------------
       Total Liabilities and Partners' Equity                                                    $  23,661,923
                                                                                                 =============
</TABLE>

The accompanying notes are an integral part of these financial statements.

<PAGE>
                   BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

                For the Three and Six Months Ended September 30, 1999 and 1998


<TABLE>
<CAPTION>
                                             Three Months Ended                          Six Months Ended
                                      September 30,        September 30,          September 30,      September 30,
                                          1999                 1998                   1999               1998
                                      -------------        -------------         --------------    ---------------
Revenue:
<S>                                   <C>                  <C>                   <C>               <C>
   Investment                         $     21,534         $     25,109          $      44,273     $      48,317
   Other                                       350                  700                  1,150             1,450
                                      ------------         ------------          -------------     -------------
       Total Revenue                        21,884               25,809                 45,423            49,767
                                      ------------         ------------          -------------     -------------

Expenses:
   Asset management fees,
     related party                          51,555               50,765                103,110           101,530
   General and administrative
     expenses (includes
     reimbursements to affiliates
     in the amounts of $36,901
     and $36,305 in 1999 and
     1998, respectively)                    31,358               15,063                 67,044            57,877
   Amortization                              7,485                9,986                 14,971            19,972
                                      ------------         ------------          -------------     -------------
       Total Expenses                       90,398               75,814                185,125           179,379
                                      ------------         ------------          -------------     -------------

Loss before equity in losses
   of Local Limited Partnerships           (68,514)             (50,005)              (139,702)         (129,612)

Equity in losses of Local
   Limited Partnerships (Note 1)          (563,373)            (490,504)            (1,049,627)         (930,339)
                                      ------------         ------------          -------------     -------------

Net Loss                              $   (631,887)        $   (540,509)         $  (1,189,329)    $  (1,059,951)
                                      ============         ============          =============     =============

Net Loss allocated
   To General Partner                 $     (6,319)        $     (5,406)         $     (11,893)    $     (10,600)
   To Limited Partners                    (625,568)            (535,103)            (1,177,436)       (1,049,351)
                                      ------------         ------------          -------------     -------------
                                      $   (631,887)        $   (540,509)         $  (1,189,329)    $  (1,059,951)
                                      ============         ============          =============     =============

Net Loss per Limited
Partnership Unit (36,497 Units)       $     (17.14)        $      (14.66)        $      (32.26)    $      (28.75)
                                      ============         =============         =============     =============
</TABLE>

The accompanying notes are an integral part of these financial statements.


<PAGE>

                      BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)

              STATEMENT OF CHANGES IN PARTNERS' EQUITY (DEFICIENCY)
                                   (Unaudited)

                   For the Six Months Ended September 30, 1999

<TABLE>
<CAPTION>

                                                                                    Net
                                               Initial           Investor       Unrealized
                             General           Limited            Limited          Gains
                              Partner          Partner           Partners        (Losses)             Total

Balance at
<S>                        <C>              <C>               <C>               <C>              <C>
   March 31, 1999          $     (71,432)   $       100       $  24,562,868     $    1,053       $  24,492,589
                           -------------    -----------       -------------     ----------       -------------

Comprehensive Loss:
   Net change in net unrealized
     gains on marketable securities
     available for sale                -              -                   -        (14,394)            (14,394)
   Net Loss                      (11,893)             -          (1,177,436)             -          (1,189,329)
                           -------------    -----------       -------------     ----------       -------------
Comprehensive Loss               (11,893)             -          (1,177,436)       (14,394)         (1,203,723)
                           -------------    -----------       -------------     ----------       -------------

Balance at
   September 30, 1999      $     (83,325)   $       100       $  23,385,432     $  (13,341)      $  23,288,866
                           =============    ===========       =============     ==========       =============

</TABLE>

The accompanying notes are an integral part of these financial statements.

<PAGE>
                     BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

              For the Six Months Ended September 30, 1999 and 1998
<TABLE>
<CAPTION>


                                                                                    1999              1998
                                                                                -------------    -------------

<S>                                                                             <C>              <C>
Net cash used for operating activities                                          $    (148,102)   $     (21,772)
                                                                                -------------    -------------

Net cash provided by (used for) investing activities                                   25,665             (946)
                                                                                -------------    -------------

Net decrease in cash and cash equivalents                                            (122,437)         (22,718)

Cash and cash equivalents, beginning of period                                        180,030          213,966
                                                                                -------------    -------------

Cash and cash equivalents, end of period                                        $      57,593    $     191,248
                                                                                =============    =============


The accompanying notes are an integral part of these financial statements.

</TABLE>



<PAGE>


                      BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


The  unaudited  financial  statements  presented  herein  have been  prepared in
accordance  with the  instructions  to Form 10-QSB and do not include all of the
information  and note  disclosures  required by  generally  accepted  accounting
principles.  These  statements  should be read in conjunction with the financial
statements  and notes  thereto  included  with the Fund's Form 10-K for the year
ended March 31, 1999. In the opinion of management,  these financial  statements
include  all  adjustments,  consisting  only of  normal  recurring  adjustments,
necessary  to present  fairly  the  Fund's  financial  position  and  results of
operations.  The results of operations  for the periods may not be indicative of
the results to be expected for the year.

The Managing  General Partner has elected to report results of the Local Limited
Partnerships  on a 90 day lag  basis,  because  the Local  Limited  Partnerships
report  their  results on a calendar  year  basis.  Accordingly,  the  financial
information  of  the  Local  Limited   Partnerships  that  is  included  in  the
accompanying financial statements is as of June 30, 1999 and 1998.

1.   Investments in Local Limited Partnerships

The Fund  has  acquired  limited  partnership  interests  in ten  Local  Limited
Partnerships which own and operate multi-family housing complexes.  The Fund, as
Investor Limited Partner,  pursuant to the Local Limited Partnership Agreements,
has acquired a 99% interest in the profits,  losses,  tax credits and cash flows
from  operations  of the  Local  Limited  Partnerships,  with the  exception  of
Springwood,  Hemlock Ridge,  Pike Place and West End Place,  in which the Fund's
interests  are  79.20%,  77%,  90% and 90%,  respectively.  Another  partnership
sponsored  by an  affiliate of the General  Partner  owns the  remaining  19.80%
limited partnership interest in Springwood.  Upon dissolution,  proceeds will be
distributed according to the partnership agreements.

The following is a summary of  Investments in Local Limited  Partnerships  as of
September 30, 1999:
<TABLE>
<CAPTION>

<S>                                                                                            <C>
Capital Contributions paid to Local Limited
   Partnerships                                                                                $  29,264,859

Cumulative equity in losses of Local Limited Partnerships                                         (7,844,406)

Cumulative cash distributions received from Local
   Limited Partnerships                                                                             (330,759)

Investment in Local Limited Partnerships before adjustment                                        21,089,694

Excess of investment cost over the underlying net assets acquired:

   Acquisition fees and expenses                                                                   1,048,010

   Accumulated amortization of acquisition fees and expenses                                        (125,860)
                                                                                               -------------

Investment in Local Limited Partnerships                                                       $  22,011,844
                                                                                               =============
</TABLE>

The Fund's share of net losses of the Local Limited  Partnerships  for the six
months ended September 30, 1999 totaled $1,049,627.



<PAGE>


                      BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Certain matters  discussed herein constitute  forward-looking  statements within
the meaning of the Private  Securities  Litigation  Reform Act of 1995. The Fund
intends  such  forward-looking  statements  to be  covered  by the  safe  harbor
provisions  for  forward-looking  statements and is including this statement for
purposes of  complying  with these safe  harbor  provisions.  Although  the Fund
believes the forward-looking statements are based on reasonable assumptions, the
Fund can give no assurance  that their  expectations  will be  attained.  Actual
results  and  timing of  certain  events  could  differ  materially  from  those
projected in or contemplated by the  forward-looking  statements due to a number
of factors,  including,  without  limitation,  general  economic and real estate
conditions,  interest rates and unanticipated  delays or expenses on the part of
the Fund and its suppliers in achieving year 2000 compliance.

Liquidity and Capital Resources

As of September 30, 1999,  the Fund had cash and cash  equivalents of $57,593 as
compared to $180,030 at March 31, 1999. This decrease is primarily  attributable
to  purchases  of  marketable  securities  in excess of proceeds  from sales and
maturities  of  marketable  securities  and  cash  used  for  operations.  These
decreases are partially offset by cash distributions received from Local Limited
Partnerships.

As of September 30, 1999,  approximately $1,259,000 of marketable securities has
been  designated  as  Reserves.  The  Reserves,  as defined  in the  Partnership
Agreement,  are  established  to be used  for  working  capital  of the Fund and
contingencies  related to the ownership of Local Limited Partnership  interests.
Management believes that the interest income earned on Reserves, along with cash
distributions received from Local Limited Partnerships, to the extent available,
will be sufficient to fund the Fund's ongoing  operations.  Reserves may be used
to fund operating deficits, if the General Partner deems funding appropriate.

Since the Fund invests as a limited partner, the Fund has no contractual duty to
provide  additional  funds to Local  Limited  Partnerships  beyond its specified
investment. Thus, as of September 30, 1999, the Fund had no contractual or other
obligation to any Local Limited Partnership, which had not been paid or provided
for.

In the  event a Local  Limited  Partnership  encounters  operating  difficulties
requiring  additional  funds,  the Fund  might deem it in its best  interest  to
voluntarily  provide  such funds,  in order to protect its  investment.  No such
event has occurred to date.

Cash Distributions

No cash  distributions  were made during the period ended September 30, 1999. It
is  expected  that  cash  available  for  distribution,  if  any,  will  not  be
significant in fiscal year 2000. As funds from temporary investments are paid to
Local  Limited  Partnerships,  interest  earnings  on those funds  decrease.  In
addition,  some of the  properties  benefit  from some type of  federal or state
subsidy,   and  as  a  consequence,   are  subject  to   restrictions   on  cash
distributions.

Results of Operations

For the six months ended September 30, 1999, the Fund's operations resulted in a
net loss of  $1,189,329,  as compared  to  $1,059,951  for the six months  ended
September  30, 1998.  The increase in net loss is primarily  attributable  to an
increase in equity in losses of Local Limited  Partnerships due to a decrease in
rental income at some properties where occupancy has decreased.

Property Discussions

The majority of properties  are operating at break-even or are  generating  cash
flow. Live Oaks Plantation, located in West Palm Beach, Florida, is experiencing
operating deficits due primarily to occupancy fluctuations. As of June 30, 1999,
occupancy  was 75%, up from 67% in March.  The  fluctuations  in  occupancy  are
primarily due to the majority of  first-year  leases  expiring and  management's
decision not to renew all the leases due to tenant collection problems.  Further
compounding the problem is competition from new affordable  housing complexes in
the area.  Accordingly,  management  is developing a more  aggressive  marketing
strategy.  The Managing  General  Partner will be working closely with the Local
General Partner and management agent to monitor operations.


<PAGE>
                    BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)

                      MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATIONS (continued)


Impact of Year 2000

The Managing  General  Partner's  plan to resolve year 2000 issues  involves the
following four phases: assessment,  remediation, testing and implementation.  To
date,  the Managing  General  Partner has fully  completed an  assessment of all
information  systems that may not be operative  subsequent to 1999 and has begun
the remediation,  testing and implementation phase on both hardware and software
systems.  Because the hardware and software  systems of both the Partnership and
Local Limited  Partnerships are generally the  responsibility of obligated third
parties,  the plan primarily  involves  ongoing  discussions  with and obtaining
written  assurances from these third parties that pertinent systems will be 2000
compliant.   In  addition,   neither  the  Partnership  nor  the  Local  Limited
Partnerships are incurring significant  additional costs since such expenses are
principally  covered under service contracts with vendors.  As of November 1999,
the General Partner is in the final stages of its Year 2000 remediation plan and
believes all major  systems are  compliant;  any systems still being updated are
not considered significant to the Partnership's operations. However, despite the
likelihood that all significant  year 2000 issues are expected to be resolved in
a timely manner,  the Managing General Partner has no means of ensuring that all
systems of outside vendors or other entities that impact operations will be 2000
compliant.  The Managing  General Partner does not believe that the inability of
third  parties to address  their year 2000 issues in a timely manner will have a
material impact on the Partnership.  However,  the effect of  non-compliance  by
third parties is not readily determinable.

Management has also evaluated a worst case scenario  projection  with respect to
the year 2000 and  expects  any  resulting  disruption  of either  the  Managing
General Partner's activities or any Local Limited Partnership's operations to be
short-term  inconveniences.  Such  problems,  however,  are not  likely to fully
impede the ability to carry out necessary duties of the  Partnership.  Moreover,
because  expected  problems  under a worst  case  scenario  are not  extensively
detrimental,   and  because  the  likelihood  that  all  systems  affecting  the
Partnership  will be compliant  before 2000,  the Managing  General  Partner has
determined  that a formal  contingency  plan that  responds to  material  system
failures is not necessary.

Other Development

Lend Lease Real Estate Investments,  Inc., ("Lend Lease") the U.S. subsidiary of
Lend Lease Corporation and the leading U.S.  institutional  real estate advisor,
as ranked by assets under management,  announced on July 29, 1999 it had reached
a memorandum  of  understanding  to acquire The Boston  Financial  Group Limited
Partnership  ("Boston  Financial").  Lend Lease closed the acquisition of Boston
Financial on November 3, 1999.

Headquartered  in New York and  Atlanta,  Lend Lease  Corporation  has  regional
offices in 12 cities  nationwide.  The company ranks as the leading U.S. manager
of tax-exempt assets invested in real estate. Lend Lease is a subsidiary of Lend
Lease  Corporation,  an international  real estate and financial  services group
listed on the  Australian  Stock  Exchange.  Worldwide,  Lend Lease  Corporation
operates from more than 30 cities on five  continents:  North  America,  Europe,
Asia,  Australia and South America. In addition to real estate investments,  the
Lend  Lease  Group  operates  in the  areas  of  property  development,  project
management and construction,  and capital services  (infrastructure).  Financial
services  activities  include  funds  management,  life  insurance,  and  wealth
protection.

<PAGE>

                   BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)
 .


PART II       OTHER INFORMATION

Items 1-5     Not applicable

Item 6        Exhibits and reports on Form 8-K

                (a)  Exhibits - None

                (b)  Reports  on Form 8-K - No  reports  on Form 8-K were  filed
                     during the quarter ended September 30, 1999.


<PAGE>
                      BOSTON FINANCIAL TAX CREDIT FUND VIII
                             (A Limited Partnership)

                                    SIGNATURE


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.


DATED:  November 12, 1999           BOSTON FINANCIAL TAX CREDIT FUND VIII,
                                    A LIMITED PARTNERSHIP


                                    By:   Arch Street VIII Limited Partnership,
                                    its General Partner




                                    /s/Randolph G. Hawthorne
                                    Randolph G. Hawthorne
                                    Managing Director, Vice President
                                    and Chief Operating Officer



<PAGE>