Commentary

65.4 VAT—TOGC involving land or buildings

BOILERPLATE AND COMMERCIAL CLAUSES vol 4(3)
| Commentary

65.4 VAT—TOGC involving land or buildings

| Commentary

65.4 VAT—TOGC involving land or buildings

There are special requirements where land or buildings are included as part of a transfer of a business as a going concern involving a two-step process – do the general TOGC rules apply, and if so, consider the rules relating to land and buildings transferred1. If the seller has opted to tax the land and buildings under VATA 1994 Schedule 10 prior to completion, or the transfer is the sale of the freehold of new and uncompleted buildings or civil engineering works liable to VAT at the standard rate, the buyer must:

  1. (a)

        properly

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