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VAT on salee of business stock
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I am in the throws of selling my business as a going concern. It is being structured as an asset sale, the main two assets being goodwill (website, customer database, brand, etc) and stock. We have agreed a total consideration for this sale. I am VAT registered and thus originally claimed the VAT back on the sale of that stock. Do I now have to charge VAT on the stock element of the assets being sold? Asked two accountants - one said yes, one said no!!
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