EU legislation provides that Member States can treat the transfer of the assets of a business as a non-supply, and hence as the transfer of a going concern (subject to certain conditions relating to anti-avoidance, distortion, etc). UK legislation reverses this, providing that a transfer may be a non-supply provided that it is the transfer of a going concern and meets the appropriate conditions. This legislative reversal leaves many businesses in doubt as to whether a particular transfer may be regarded as a non-supply. Is it possible to bring UK legislation more into line with EU legislation, and provide greater certainty for businesses?
