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Which of the following must apply for the sale of theentire business to be treated as a transfer of
a going concern for VAT purposes,such that the transfer is not a taxable supply?
1. All ofthe assets and liabilities of the business must be transferred
2. The new owner must use the assetstransferred in the same type of business asthe seller.
3. The new owner must be an established VAT registered trader before the transfer
4. Theremust be no significant break in the normal trading pattern of the business.
A. 1 and 2
B. 2 and 4
C. 1 and 3
D. 3 and 4
ans; B . I only know point 3 will not be correct. other point i am confuse
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