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HMRC internal manual

VAT Transfer of a going concern

HM Revenue & Customs
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Article 5 VAT (Special Provisions) Order 1995: Has there been the transfer of a business or just a sale of assets?: customer lists, knowledge of customers and common directors

The sale of a list of previous or potential customers is a good indication that a business is being sold. However, a transfer of a customer list alone is not likely to be the transfer of a business - even in the case of a service business whose only real asset ofworth it may be.