Notes

(1) Transfer of a going concern (TOGC)

Subject to certain conditions, the transfer of a business, or part of a business, as a going concern is not liable to VAT. It is deemed to be neither a supply of goods or services. However, a transfer of a going concern that, in normal circumstances, is neither a supply of goods or services may be subject to a VAT charge when the transferee is a VAT group.

(2) Partially exempt groups

The anti-avoidance measure is targeted at partially-exempt VAT groups. It does not apply when the VAT group may recover all its input tax (subject to the normal exceptions) in:

(a)the prescribed accounting period in which the assets are transferred; or

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.