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TOGCs: connected parties and anti-avoidance

Rowena Clifton and Sean McGinness (The VAT Consultancy) review the VAT rules on transfer of business assets for a going concern, including the position for connected parties and the impact of Intelligent Managed Services affecting VAT groups.
 

Purpose and scope of the TOGC provisions

 
To recap on the basics the sale or transfer of business assets as a going concern to a person who will continue that business (known as a TOGC for VAT purposes) is outside the scope of VAT as it is neither a supply of goods or of services. Currently under UK law the TOGC provisions only apply to a scenario where the trade and assets of a business are transferred; they do not apply to the sale of shares which...

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