Commentary

B2.506 Delivery and passing of ownership of goods

Business tax
Business tax | Commentary

B2.506 Delivery and passing of ownership of goods

Business tax | Commentary

B2.506 Delivery and passing of ownership of goods

The strict position is that before goods are treated as sold or purchased for tax purposes, the property in the goods should have passed from the seller to the purchaser (see B2.501). For this purpose it is not essential that the goods should have been physically delivered.

The time when the property in the goods has passed depends on the intention of the parties as evidenced by the terms of the contract and, in the absence of such evidence, is governed by the provisions of the Sale of Goods Act 1979, ss

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