Articles tagged with: GOING CONCERN
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Hi all,
I have converted a Trading as into a CC, and want to sell the assets of the Trading as to the CC.
We need to notify Ministry of Finance about the “going concern” sale within 21 days, and they may then zero rate the VAT for the sales transaction. Both the trading as and CC is registered for VAT.
I have prepared the transactions for the “going concern sale”; can someone tell me if the entries are correct?
Going Concern Sale from T/A to CC
TRADING AS
DR – Creditors …
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