VAT Property Solutions
Note: 14
A transfer of land and buildings can only be treated as a transfer of a going concern where the transferor has opted to tax the supply and the transferee has made an option to tax in relation to the land and buildings concerned. The election must be in effect and the transferee must have notified Customs of the election no later than the date of the first grant. Where the transferee has not made this election, VAT must be charged on the transfer price.
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