Decision given 24 April 1986.

Assessment – Underdeclaration – Transfer of a business as a going concern – Whether taxpayer took on company’s liabilities for returns and tax – Whether assessment could be made on taxpayer for those liabilities – Value Added Tax Act 1983, sec. 33 – Value Added Tax (General) Regulations 1980, reg. 4 (now, Value Added Tax (General) Regulations 1985, reg. 4).

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