transfer of a going concern

transfer of a going concern
Under value added tax (VAT) regulations, the disposal of a business by a registered trader to another VAT-registered trader, on which VAT is not charged. In the 2004 Budget new measures were introduced to crack down on VAT-avoidance schemes using the rules on transfer of a going concern. HM Revenue and Customs is responsible for applying the rules.

Accounting dictionary. 2014.

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