Category Archives: TOGC

HMRC have now provided further guidance on when the grant of a lease can be a transfer of a business as a going concern (“TOGC”), which is not a supply for VAT purposes.  HMRC’s previous guidance explained that the grant of a lease could be a TOGC provided that the lessor’s retained interest had a … Continue reading New HMRC TOGC guidance

HMRC now accepts that the grant of a long lease subject to existing leases is capable of being a transfer of a going concern (TOGC) for VAT purposes, provided that the lessor’s retained interest is small enough not to disturb the substance of the transaction, being the transfer of the lessor’s property letting business to … Continue reading Grant of lease can be a TOGC – HMRC reverses its position