TOGC ― overview

Produced by Tolley
TOGC ― overview

The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • TOGC ― overview
  • What is a transfer of a business as a going concern?
  • What are the conditions for a transfer of a business as a going concern?
  • What needs to be considered when transferring land and property as part of a transfer of a business as a going concern?
  • How does a transfer of a business as a going concern impact on VAT recovery?
  • What other VAT issues can arise out of the transfer of a business as a going concern?
  • Practical points ― transfer of a business as a going concern

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marked the end of the Brexit transition / implementation period entered into following the UK’s withdrawal from the EU. At this point in time, key transitional arrangements came to an end and significant changes began to take effect across the UK’s VAT and customs regime. This document contains guidance on subjects potentially impacted by these changes. Before continuing your research, see the Brexit — overview guidance note.

This guidance note provides an overview of the transfer of a business as a going concern (TOGC).

In-depth commentary on the legislation and case law can be found in De Voil Indirect Tax Service V2.226.

This guidance note can be used in conjunction with the Business reorganisations - review and checklist which can assist with ensuring that all relevant matters are considered.

What is a transfer of a business as a going concern?

The default position for the sale of business assets by a business which is registered for VAT or required to

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