The business assets transferred under a transfer of a business as a going concern (TOGC) will be disregarded for VAT purposes, subject to certain conditions. This document discusses these in detail, together with the acquisitions by non-established persons; transactions that are not a TOGC; business assets; recovering VAT on costs incurred; VAT issues after a TOGC; and accounting matters.

Points discussed within this guidance note:

> Conditions

Businesses need to be aware that they are legally required to use the transfer of a business as going concern provisions if they meet the conditions outlined in this note and therefore it is essential to work out whether the transfer of trade and assets should be treated as a togc (HMRC Notice 700/9).

> Non-established persons

HMRC has provided guidance to the correct treatment of businesses acquired by a purchaser who does not have any kind of establishment in the UK. This note explains this guidance and how a non-established purchaser must register for VAT within a specific timeframe.

> Transactions that will not be treated as a TOGC

> Assets

> Recovering VAT on costs

> VAT issues after a TOGC

>> Capital goods scheme (CGS)

>> Partial exemption – clawback and payback provisions

>> Assets not transferred

>> Transferring the existing VAT registration number)

>> Existing VAT number is not transferred

>> Accounting matters

>> Self-billing

>> Partial exemption

>> Retail schemes

>> Free supplies of goods

>> Intrastat

>> Record retention

> VAT groups

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