VAT Notice 700/9 Transfer a business as a going concern updated
Released 05 December 2018
HMRC have updated VAT Notice 700/9 to add new information about non-UK purchasers, intra-group transfers and rental property business transfers.
VAT Notice 700/9 Transfer a business as a going concern (5 December 2018) explains when and how to account for VAT on a transfer a business as a going concern (TOGC). The notice has been updated to add new advice for purchasers not established in the UK at paragraph 2.2.6 Buyer not established in the UK. The notice further reflects updated rules on transfers into a VAT group in paragraph 4.3 Transfers made to a VAT group and new information has been added in paragraph 2.4 When a ‘property rental business’ is transferred for when property is transferred but the seller retains an interest in it. This notice cancels and replaces the version last updated December 2012.
View the updated notice Transfer a business as a going concern (VAT Notice 700/9).