Buying or Selling a Business

The VAT treatment of a business sale depends on whether the vendor is selling shares, assets or an ongoing business. There are Transfer of a Going Concern (TOGC) rules which can allow the sale of an ongoing business to be treated as outside the scope of VAT. Certain conditions must be met for TOGC treatment to apply and we can help you establish whether the business you are buying or selling will qualify. There are certain things which the buyer and seller must do before and after the sale and it is important that each party is aware of their responsibilities.