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12 September 2007
To get actionable insight and practical guidance to support you day-to-day on 'VAT treatment regarding the transfer of business assets' click here.
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To get actionable insight and practical guidance to support you day-to-day on 'VAT treatment regarding the transfer of business assets' click here.
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I know that if a taxable person transfers a business as a going concern to another person the transferee takes over the turnover history. If that puts them over the registration threshold they are registrable from the date of transfer. But I am sure I have read somewhere that the transfer of a part of a business always falls outside VATA 1994 s 49.
For example: I own six opted properties and am registered for VAT. I transfer one of those properties on which the rent in the last year has been £70 000 to someone else who is not currently registered. If that is right then the transfer...
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