FRS4500 - Leaving the scheme: What happens if there is a TOGC?
If a business using FRS is transferred as a going concern and the VAT registration number is reallocated, FRS treatment will continue unless the transferee requests otherwise.
Where the FRS indicator is set and reallocation is requested, a letter will be generated automatically and sent to the transferee.
If there is a TOGC of an FRS business without the reallocation of the number, the transferor바카라 사이트™s FRS treatment will end unless there remains an eligible portion of the business. The transferee will be on normal accounting unless it applies for FRS.
- Note: The computer will not identify cases where there is a TOGC without reallocation of the VAT registration number.