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Where Taxpayers and Advisers Meet

Commercial property purchase as a TOGC

Posts: 1
Joined: Fri Sep 06, 2019 8:46 pm

Commercial property purchase as a TOGC

Postby doobrey » Fri Sep 06, 2019 9:17 pm

I am close to buying a commercial property (A3) as an investment. It is tenanted with 12 years remaining on the lease. I propose to purchase as an individual. It is elected for VAT.

If this goes ahead - which seems likely - it will be very important that it is structured as a Transfer Of a Going Concern so that VAT is not due on the purchase price. I understand that the main action items for me would be to register for VAT and exercise the option to tax. To confirm, it is not necessary to be a company in order to do this? I could register for VAT as an individual?

Other than that, any particular pitfalls to watch out for?


Posts: 1
Joined: Sun Sep 08, 2019 3:58 pm

Re: Commercial property purchase as a TOGC

Postby DrTax » Sun Sep 08, 2019 4:00 pm

The transferee can be any VAT registered person, no need for it to be a company

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