The sale or transfer of a fully or partially tenanted property by a landlord to another person is generally treated as a TOGC and is not chargeable to VAT, even where the option to tax has been exercised or the sale is of a freehold of a ‘new’ building, provided the following conditions are met:

athe buyer must intend to carry on the business of letting the building as the seller has done;

bthe buyer must take over as landlord with immediate effect from the date of completion;

cthere must be no break in the business (i.e. the tenancy);

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