VAT : TOGCs of property assets – book extract

Thank you for your interest in receiving an extract from Ann’s book on VAT and Property’, published in February 2015.

This Chapter of the book covers TOGCs of property assets and consists of the following sections:

  • The legal framework for TOGC treatment
  • The general conditions for TOGC treatment
  • TOGCs: Some drafting points
  • General condition (1): business assets transferred as part of a going concern
  • General condition (2): assets to be used by the transferee in carrying on the same kind of business
  • General condition (3): transferee must be a ‘taxable person’ or, as a result of the TOGC, become a taxable person
  • General condition (4) Transfer of part of a business capable of separate operation
  • Additional conditions for certain property assets to be included in a TOGC
  • Property letting and TOGCs
  • TOGCs of properties let or held to let – HMRC’s views
  • TOGCs and transfers to nominees
  • TOGCs: summary of main VAT consequences
  • Input tax
  • Capital goods scheme
  • Business records
  • Registration/deregistration
  • Transfers into VAT groups


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