VAT-Avoidance

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Definitions
Transfer of a Going Concern (TOGC)
Transfer of a Going Concern TOGC VAT Registered Trader VAT-Avoidance HM Revenue and Customs Business Disposal Tax Regulations
Under VAT regulations, the disposal of a business by a registered trader to another VAT-registered trader, on which VAT is not charged. However, new measures were introduced in the 2004 Budget to counter VAT-avoidance schemes utilizing the rules on TOGC. HM Revenue and Customs (HMRC) is responsible for applying these rules.
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