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HMRC internal manual

VAT Registration

From
HM Revenue & Customs
Updated
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Transfers of going concerns (TOGC): record-keeping obligations

The VAT Act 1994, section 49(4)(b), provides that the accounting records of the business, or part business, being transferred must be preserved by the transferor unless the VAT registration number is also to be transferred, in which case the records should be preserved by the transferee unless the Commissioners direct otherwise.

Where you believe there has been a TOGC, you should ensure that both transferor and transferee are made aware of their obligations in this matter. Please use the letter at VATREG47050.