TOGC ― overview

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides an overview of the transfer of a business as a going concern (TOGC).

In-depth commentary on the legislation and case law can be found in De Voil Indirect Tax Service V2.226.

For a video overview of the TOGC provisions, see the Transfer of a Going Concern video.

This guidance note can be used in conjunction with the Business reorganisations ― review and checklist which can assist with ensuring that all relevant matters are considered.

What is a transfer of a business as a going concern?

The default position for the sale of business assets by a business which is registered for VAT or required to be registered for VAT (see the VAT registration and deregistration ― overview guidance note) is that it will be subject to VAT at the appropriate rate for the assets in question. However, the sale of assets as part of a business which is a ‘going concern’ will be treated as neither a supply of goods nor a supply of services for VAT purposes provided certain conditions

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TOGC ― overview

TOGC ― overview