This guidance explains the mechanism of transfer of a business as a going concern (TOGC) and outlines the procedural steps for applying. A TOGC occurs when a business or identifiable part of a business is transferred to another party while continuing its operations without interruption. The guidance covers eligibility criteria, the conditions that must be met, and the application process required to obtain TOGC treatment for VAT purposes.
Source: HMRC (GOV.UK) – Read the original