Regulation 107D Adjustment of attributionF1

United Kingdom

For the purposes of regulations 107A and 107B a person is the successor of another if he is a person to whom that other person has—

(a)

transferred assets of his business by a transfer of that business, or part of it, as a going concern; and

(b)

the transfer of the assets is one falling by virtue of an Order under section 5(3) of the Act to be treated as neither a supply of goods nor a supply of services;

and the reference in this regulation to a person’s successor includes references to the successors of his successors through any number of transfers.

Annotations

Textual amendments

F1: Regs. 107A-107E inserted (18.4.2002 in relation to input tax incurred by a taxable person on goods imported or acquired by, or goods or services supplied to, him on or after that date) by The Value Added Tax (Amendment) Regulations 2002 (S.I. 2002/1074), regs. 1, 7