Q&As

If a site is being sold which comprises three units (all of which are let), and some undeveloped land, can this still constitute a transfer of a going concern for VAT (assuming all the other relevant conditions are met)?

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Published by a LexisNexis Tax expert
Published on: 01 December 2017
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If the sale of a business is treated as a transfer of a going concern (TOGC) it is treated as neither a supply of goods, nor a supply of services and is therefore outside the scope of VAT. No VAT is then chargeable on the sale.

There are various conditions that must be met for a sale of a business to qualify as a TOGC. These are set out in detail in Practice Note: VAT—what is a transfer of a business as a going concern?

Further conditions can apply where

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United Kingdom

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