I am looking quite seriously at buying a commercial property, which would be my first one. It is elected for VAT so it would be critical to structure the purchase such that VAT was not payable on the purchase price.
As such my understanding is that it must be done as a Transfer Of a Going Concern. I would propose to buy as an individual and see no particular reason, from a tax perspective, to use a Ltd. company. Leaving tax issues aside, for a TOGC am I correct in thinking that:
(1) There is no requirement for the purchaser to be a Ltd. company?, and if so
(2) I, the purchaser, must register for VAT? (I am not at the moment)
As such my understanding is that it must be done as a Transfer Of a Going Concern. I would propose to buy as an individual and see no particular reason, from a tax perspective, to use a Ltd. company. Leaving tax issues aside, for a TOGC am I correct in thinking that:
(1) There is no requirement for the purchaser to be a Ltd. company?, and if so
(2) I, the purchaser, must register for VAT? (I am not at the moment)
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