rh3984203

The date of transfer is relying upon the issuance of a VAT number by HMRC - as soon as HMRC provide a VAT number we can proceed with the transfer - there's no way of knowing this date in advance - based on this, what date do you suggest we enter? I'm not sure if the seller will be cancelling their VAT number on the same date as transfer (we're only buying the assets from the company, not the company itself).

I just had a look at the online VAT registration form. One of the questions is "Why do you want to register the business for VAT?" - I selected "It's taking over a VAT registered business as a Transfer of Going Concern". The next question is "What date did the transfer of business take place?" with a note saying "The date must match the previous owner of the business gave us". This has caused me confusion. The rules say I need the VAT in order to to qualify for the TOGC VAT rules but this question makes it sound like I should first transfer (buy) the business and then apply for the VAT registration. Please advise. Note: the following question is "Do you want to keep the existing VAT registration number?" - We'll be selecting "No" for this. The reason I mention this now is so that I don't get a response stating I must have selected the wrong option.

Hello, We are going to setup a new company (and also submit a VAT registration application as soon as possible after company formation). We are looking to purchase into the company a business as a "Transfer of a going concern (TOGC)" transaction (so no VAT payable on any of the deal). Before we proceed with the purchase do we need to have a live VAT number for the transaction to qualify for "Transfer of a going concern (TOGC)" VAT rules? Or is it ok to apply the rules and tax treatment with a pending VAT registration application? RH