Commentary

V7.178 Transfer of a going concern—option to tax

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.178 Transfer of a going concern—option to tax

Part V7 Tax planning | Commentary

V7.178 Transfer of a going concern—option to tax

With most complex subjects on VAT, issues concerning property and the option to tax are never too far away.

The key point as far as land and buildings are concerned is to remember that there is an extra stage to the rules.

Basically, if the seller has opted to tax the property that is now being sold as part of a TOGC, then the buyer must also make an election to tax the property in question before the transfer is made and confirm in writing to the seller that this option to tax will

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