The business will send in its first VAT return to HM Revenue & Customs, with all the VAT due for the whole of the period shown on the form
The business will send in any outstanding returns which are due from the previous owner
The business will pay HM Revenue & Customs any VAT due on supplies made by the previous owner before the transfer - including any VAT on stocks and assets kept by the previous owner.
The business agrees that any VAT return made by the previous owner for a period after the transfer date will be treated as made by the business; and
The business will have no right to claim any money paid by HM Revenue & Customs to the previous owner, before the transfer of the business.
