Reply To: Claiming VAT on professional fees for sale of commercial property as a TOGC

Forum Categories VAT ON PROPERTY TRANSACTIONS Claiming VAT on professional fees for sale of commercial property as a TOGC Reply To: Claiming VAT on professional fees for sale of commercial property as a TOGC

#56180
Trevor S
Participant

HMRC’s notice 700/11 contains a link for cancelling a VAT registration online – that may be the best option. See section 2.2 for instructions. I’m assuming that the new owner will have VAT registered in their own right, rather than your registration being transferred.
https://www.gov.uk/government/publications/vat-notice-70011-cancelling-your-registration/vat-notice-70011-cancelling-your-registration#basic-information

I’ve never done a deregistration, but the guidance implies that you give the reason for deregistering (in your case, compulsory due to taxable activity having ceased) as part of the process.

Provided that the professional fees invoice is dated prior to the end of August, you can include it in the Jun-Aug return, then cancel your registration as above.

Assuming that the VAT registration number hasn’t transferred to the new owner, you shouldn’t need to be involved in their VAT return. Theirs may not be Jun-Aug anyway, different businesses’ VAT quarters end in different months. The management company will presumably only be providing you with figures covering the period up to the sale (not the end of August) and will provide figures to the new owner from the sale to whenever their VAT quarter ends.