VAT issues on the sale of a business and transfers of a going concern

Yesterday I went down to Dover because I wanted to oversee some goods being imported after Brexit. When I had finished viewing the spectacle my client chanced to catch sight of me from a distance as I was starting on my way home.

‘I’m pleased I was able to catch you today as I’ve had a fair bit on my plate recently and could do with bouncing a couple of things off you ’ the Conscientious Practitioner observed.

‘Of course always happy to help if I can. What have you been up to recently?’ I said.

‘Mainly dealing with a large number of clients who have decided to sell their businesses or to buy other businesses. Many want to sell and buy shares but there is a growing enthusiasm to purchase the assets – the buyers don’t want to inherit any risk in the company’s history...