Commentary

V7.387 Option to tax—transfer of a going concern arrangements

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.387 Option to tax—transfer of a going concern arrangements

Part V7 Tax planning | Commentary

V7.387 Option to tax—transfer of a going concern arrangements

Buyer must opt to tax the property as well

The transfer of a going concern is normally outside the scope of VAT – as long as various conditions are met. The transfer of a business will often include land and buildings, and the seller may have opted to tax these buildings.

There is potential for the part of the sale relating to the land and buildings to also be outside the scope of VAT, even where the seller has opted to tax the property. The basic rules are as follows:

  1.  

    •     the

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial