The paragraph looks at the transfer of a business as a going concern (TOGC).
The disposition of a business as a going concern is a supply made in the course or furtherance of business. So is the disposition of the assets or liabilities of a business1.
This paragraph considers:
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•ÌýÌýÌýÌý the consequences of a transfer of a going concern
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•ÌýÌýÌýÌý the meaning of 'going concern'
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•ÌýÌýÌýÌý the conditions attached to the 'de-supply' of the transfer of a going concern
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•ÌýÌýÌýÌý TOGCs in particular circumstances – including property rental businesses and transfers into and out of VAT groups
For an overview of VAT and business more broadly, see V2.201B.
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Whether a business is transferred as a going concern is important as it has several potential consequences for VAT purposes. The major consequences are set out below.
Potential de-supply
Where a TOGC fulfils certain conditions (ie those set out in SI 1995/1268, arts 5(1)–(3)) the supply of goodwill, premises,
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