Commentary

V7.210 Other matters concerning the cash accounting scheme

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.210 Other matters concerning the cash accounting scheme

Part V7 Tax planning | Commentary

V7.210 Other matters concerning the cash accounting scheme

Transfer of a going concern

When a business is transferred as a going concern, then one of two situations will apply: either the new business retains the VAT registration number of the old business or the new business applies for its own VAT number. In the latter case, the transferor must, within two months or longer period as HMRC allow, account for and pay VAT due on all supplies made and received which have not otherwise been accounted for on any return (less input tax credit).

If the same VAT number is retained, the transferor must

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