![warren_9](https://www.taxation.co.uk/images/default-source/files/field/image/warren_9.jpg?sfvrsn=999c5fd5_2)
Pontardawe Inn Ltd, and VAT issues raised by business sale transactions
KEY POINTS
- Pontardawe Inn Ltd (TC3563) illustrates the VAT implications business and business sale transactions.
- Business purchases and sales should always raise concerns.
- Transfers of a going concern are exempt from VAT but conditions must be met.
- Making an option to tax can be advantageous as long as this does not fall within the anti-avoidance provisions.
- If a rented property is within the capital goods scheme the flat rate scheme cannot be used.
When I write an article about the nation’s favourite tax (VAT just in case you were wondering) I sometimes bring in two different themes.
The advantage of this is that if a reader is not interested in the first topic the situation can hopefully be salvaged if he is excited by the second...
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