This month’s update by Mark Watterson and Gary Barnett (Simmons & Simmons) covers FTT decisions on the tests for a transfer of a going concern and a ‘direct and immediate’ link.
Can the sale of a development site marketed with vacant possession meet the conditions for a VAT free TOGC when the purchaser suggests setting up leases with friendly parties? Jonathan de Wilton (Grant Thornton) investigates.
Kevin Hall (Gabelle) answers a query on whether VAT is chargeable on the sale of assets in a business held among several companies within a large group.