Transfer of business as ‘going concern’ – Supply of assets followed by non-related transfer of business or viable part of business of vendor of assets as a ‘going concern’ – Input tax on non-related supply of assets deductible – VAT (Special Provisions) Order 1981, art. 12.
The issue was whether the supply of certain assets purchased by the appellant from a related company (Cedac Ltd) was part of a series of transactions transferring to the appellant company the whole or a viable part of the business of Cedac as a going concern.
There were three questions for decision.
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