The UK transfer of a going concern regime: trade facilitation measure or bureaucratic jungle?

A transfer of the assets of a property business as a going concern (TOGC) is outside the scope of VAT if certain conditions are met. Some of these require a buyer to do specific things by a certain time but others are dependent on a buyer's intentions or actions after the transfer. Sellers must deal with these contractually. The necessary procedures have been refined in response to Tribunal and Court decisions and they are affected by the VAT anti-avoidance provisions. The ECJ decision in the case of Zita Modes SARL (Case C-479/01) should lead to changes in the rules. Copyright © 2004 Henry Stewart Publications