Transfer of Business Relief (TOB)

TOB is a relief from applying Value-Added Tax (VAT) on the transfer of business assets, such as goods and goodwill, to an accountable person.

Those transferred assets must constitute an undertaking or part of an undertaking capable of being operated on an independent basis. Where this test is satisfied, the transaction is deemed not to be a supply for VAT purposes.

To avail of TOB, you must take over the complete business or a complete part of the business, the trade and assets.

Further guidance contains detailed information on Transfer of Business Relief.