VAT – TOGCs – updated guidance

HMRC has substantially rewritten and republished (on 22 April 2008) VAT Notice 700/9: Transfer of a business as a going concern. For those involved in such transactions, the Notice needs to be read. All paragraphs of the previous edition have been amended – either to give additional or amended guidance, or revised style and clarification points. An analysis of the VAT Notice is included in the May issue of the CPI Update.