Commentary

BB/11A/01 Transfer of a business as a going concern and notification of option to tax

Part V16 Forms and other HMRC material

BB/11A/01 Transfer of a business as a going concern and notification of option to tax

BB/11A/01 Transfer of a business as a going concern and notification of option to tax

Business Brief Issue 11. 21 August 2001

This business brief reports a change in the procedure for notification of an option to tax, where a property is purchased as part of the transfer of a going concern. The change follows the March 2001 decision of the VAT and Duties Tribunal in Chalegrove Properties Ltd LON/99/0851 [see Simon's Weekly Tax Intelligence 2001 p 1065].

Background

Under certain circumstances, the buyer has to give written notification to Customs by the relevant date of his option to tax, as part of

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