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Sam, Accountant
Category: Tax
Satisfied Customers: 7510
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I am vat registered (but only just over the threshold). I am

Customer Question

I am vat registered (but only just over the threshold). I am going to sell my business to be run as I have run it but just below the threshold; so the purchaser will not be registered for VAT. Is it true that I will have to pay VAT on the sale price because it's not qualifying as a Going Concern? And I will have to pay CGT on the gain from when I bought the business 10 years ago?
Submitted: 4 years ago.
Category: Tax