Joint submission from the CIOT, ATT and ICAEW on the VAT treatment of transfers of a going concern (TOGC)

By Technical Team on 21 Jul 2016

TOGCs can be significant in value so it is essential to accurately identify whether such transactions qualify for VAT-free treatment as a non-supply under Articles 19 and 29 of the Principal VAT Directive 2006/112/EC. In order to assist taxpayers, advisers and HMRC in arriving at the correct position and to afford greater legal certainty, the CIOT, ATT and ICAEW have produced a joint submission to HMRC raising their concerns along with suggested proposals of how to secure greater certainty for all parties involved in these transactions.

The written submission is available below in PDF format.

Technical Team