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HMRC internal manual

VAT Transfer of a going concern

Land and Property: Notification on or before relevant date: relevant date

Relevant date is defined under Article 5(3) of the VAT (Special Provisions) Order 1995 as:

“the date upon which the grant would have been treated as having been made or, if there is more that one such date, the earliest of them.”

Thus, the relevant date is the time of supply of the land. It will normally be the date of completion or the date the property is transferred, though this may not always be the case. The payment of a deposit prior to completion that creates a tax point could also form the relevant date. However, care should be taken to distinguish deposits paid to independent stakeholders, as such payments do not create tax points until they are released to the purchaser. If the purchaser has not opted and notified Customs of the option (if notification is required, see paragraph VTOGC6310) and notified the seller that his option is not disapplied prior to paying (by the relevant date) then the supply of the property is not de-supplied by the TOGC provisions. This is the case regardless of any later exercise of the option or notification. Where no depositor part payment has been made, the relevant date is normally the date the property was transferred.