Commentary

V2.224 Change of control of a business

Part V2 Registration – deregistration

V2.224 Change of control of a business

V2.224 Change of control of a business

A business may cease to be carried on under the control of the person registered for the purposes of VAT in the following circumstances:

  1.  

    •     when an individual dies, becomes incapacitated or bankrupt

  2.  

    •     a change in the composition of a partnership occurs

  3.  

    •     a receiver or liquidator is appointed to control the affairs of a body corporate or unincorporated association

In such cases it is necessary to notify HMRC of the change1. See V2.124 in relation to these notification requirements.

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