Rowena Clifton and Andy Gott (RSM) review HMRC’s new guidance on business transfers into VAT groups, which clarifies how the VAT registration test should be applied when the purchaser is not established in the UK for VAT purposes.
HMRC has issued Business Brief 11/2016 revising its current policy on business transfers into VAT groups and clarifying how the VAT registration test should be applied when the purchaser is not established in the UK for VAT purposes. Although the number of transactions affected by these changes is likely to be small the brief offers a timely reminder that business transfers remain a complex and high risk area for VAT despite a large (and ever growing) body of case law on how the various tests should be interpreted.
A recap on business transfers and VAT
The sale or transfer of...
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Rowena Clifton and Andy Gott (RSM) review HMRC’s new guidance on business transfers into VAT groups, which clarifies how the VAT registration test should be applied when the purchaser is not established in the UK for VAT purposes.
HMRC has issued Business Brief 11/2016 revising its current policy on business transfers into VAT groups and clarifying how the VAT registration test should be applied when the purchaser is not established in the UK for VAT purposes. Although the number of transactions affected by these changes is likely to be small the brief offers a timely reminder that business transfers remain a complex and high risk area for VAT despite a large (and ever growing) body of case law on how the various tests should be interpreted.
A recap on business transfers and VAT
The sale or transfer of...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
