Explaining the meaning of a TOGC
Published: 13:23, 07 June 2020
| Updated: 13:24, 07 June 2020
A TOGC is a transfer of a business as a going concern for VAT purposes.
If a business is sold as a going concern and the relevant conditions are met, VAT can be disregarded from the transaction as it is treated as outside the scope of VAT.
To qualify as a TOGC for VAT, the following needs to apply: