Schedule 10, Part 1, paragraph 23(2)

There is no relevant transfer of a business as a going concern if, since the option had effect, no grant in relation to the land has been made which is treated as neither a supply of goods nor a supply of services because— the supply is a supply of the assets of a business by the taxpayer to a person to whom the business (or part of it) is transferred as a going concern, or the supply is a supply of assets of a business by a person to the taxpayer to whom the business (or part of it) is so transferred.

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Source: legislation.gov.uk · retrieved 2026-07-28