Commentary

V7.187 Transfer of a going concern—retaining the seller's VAT number

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.187 Transfer of a going concern—retaining the seller's VAT number

Part V7 Tax planning | Commentary

V7.187 Transfer of a going concern—retaining the seller's VAT number

It is possible for the buyer of a business to retain the seller's VAT registration number by completing Form VAT 68. However, this is an unwise move in most cases because the new owner is also taking over the potential VAT liabilities of the previous business. It is suggested that a new VAT registration number be obtained to avoid this potential risk.

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