This Practice Note outlines the main tax considerations relevant to the sale of a business by way of an asset sale between two unrelated companies chargeable to UK corporation tax. It covers how the consideration is apportioned, whether the business sale will be treated as a transfer of a going concern (TOGC) for value added tax (VAT) purposes and the tax impact of the sale of the various types of assets being sold as part of the business. This Practice Note was produced in partnership with Emma Perez of Squire Patton Boggs (UK) LLP.