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Commentary

36.5 VAT on transfers of entitlements

AGRICULTURE vol 2(2)
| Commentary

36.5 VAT on transfers of entitlements

| Commentary

36.5 VAT on transfers of entitlements

Guidance notes1 issued by HM Revenue and Customs in relation to Single Payment Scheme entitlements in 2005 indicate that if entitlements are sold without land then VAT is due at the standard rate. If entitlements are sold with land then the entitlements will follow the liability of the land transfer, provided that the acquisition of the land is the principal driver behind the transaction. If no option to waive the exemption for VAT has been made, or if the transfer as a whole is treated as the transfer of a going concern,

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