Hmrc togc manual

HMRC has now accepted, subject to the normal conditions, that surrendering a lease could be a TOGC. For example: ‘Where a tenant subletting premises for its business decides to surrender its interest in the property together with the sublet tenant, subject to the other conditions this could be a . HMRC internal manual VAT Transfer of a going concern. From: HM Revenue Customs Published 10 April Updated: 9 June , see all updates. Search this manual. Search (TOGC) however is the.  · HMRC internal manual VAT Transfer of a going concern. From: HM Revenue Customs Published 10 April Updated: 9 June , see all updates. Search this manual. Search Contents.

HMRC internal manual VAT Transfer of a going concern HMRC will accept that the element retained by the transferor is sufficiently small for the possibility of TOGC to apply if the value of the. When considering whether a TOGC applies, always look at the bigger picture of the deal to decide if a business is being sold rather than individual assets. Most importantly, don't waste time writing to HMRC for a ruling if you're unsure. It will refuse the request and instead refer you to its extensive published guidance. Hi, recently sold a commercial property (income generating hotel room) as a TOGC - would welcome some advice - tried ringing HMRC VAT, emailed them with an enquiry 3 weeks ago, but still haven't heard anything - even tried waiting for a live chat link on teh website, but it never pops up, clearly they are very busy! My next VAT quarter return (and presumably final one) is due end of September.

HMRC has now accepted, subject to the normal conditions, that surrendering a lease could be a TOGC. For example: ‘Where a tenant subletting premises for its business decides to surrender its interest in the property together with the sublet tenant, subject to the other conditions this could be a TOGC.’. HMRC internal manual VAT Transfer of a going concern. From: HM Revenue Customs Published 10 April Updated: 9 June , see all updates. Search this manual. Search (TOGC) however is the. Normally the sale of business assets 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’ (TOGC) will be treated as outside the scope of VAT provided certain conditions are met.