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Home / De-Voil / Part V2 Registration – deregistration / Division V2.1 Registration and deregistration / Liability/entitlement to register for VAT—taxable supplies / V2.137 Liability to VAT registration when business transferred as a going concern
Commentary

V2.137 Liability to VAT registration when business transferred as a going concern


Part V2 Registration – deregistration

Liability to register for VAT when a business is transferred as TOGC due to historical turnover

Transferees who are not registered becomes liable to registration when a business (or part of a business) is transferred to them as a TOGC if both of the following apply1:

  1. Ìý

    •ÌýÌýÌýÌý the person who carried on the business before to the transfer ('the transferor') is a taxable person, and

  2. Ìý

    •ÌýÌýÌýÌý the value of the transferee's taxable supplies in the period of one year ending at the time of transfer has exceeded the prescribed registration limit (the VAT registration threshold).

The table below provides details of the VAT registration threshold2.

From

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Web page updated on 24 Aug 2024 11:48