Cases - Trade Only Plant Sales Ltd v Customs and Excise
Record details
- Name
- Trade Only Plant Sales Ltd v Customs and Excise
- Date
- [2004]
- Citation
- UKVAT V18847
- Legislation
- Keywords
- Construction – VAT – Standard-rated supplies of property – Sale of new commercial buildings or civil engineering works
- Summary
-
A company purchased a new commercial property. Two years later the company transferred its business to an associated company as a going concern. The property was retained by the original company which then ceased to be VAT registered. Customs considered that VAT was due on the deemed supply of the property at deregistration as it was ‘new’ (i.e. less than 3 years’ old). Under rules concerning transfers of going concerns the associated company had to pay the VAT.