What does this mean for small businesses trading with the EU? This article looks at the new rules for the import and export of goods to/from the EU and the VAT implications.
If a sale of a business qualifies as a transfer of a going concern (TOGC) then no VAT is charged on the sale.
Most goods and services have been categorised to determine whether they are subject to VAT when sold and what the rate of VAT would be.
Once we have agreed the right fee for
your business, it stays fixed for 3 years…