Transfer / Selling business to the new owner & Clearance>?

29/04/2019 11:22:18
Good Morning Team,

We are in the process of selling our business [ small Gym] to a new business owner via transferring shares and would like to know if we need to seek an approval or permission from HMRC for any clearance for the business / corporation tax for last four years? if yes, how do we ensure and where to send the form / letters to?

We just want to make sure the business tax affairs are all up to date until the time of the hand over and if it is possible to get a clearance from HMRC on the tax affairs are all up-to-date before the transfer / sell date?

Thank you in advance,

  • HMRC Admin 50
  • Joined: 21/06/2017 15:34:03
  • Messages: 1615
  • Offline
  • View profile
  • Send message

Re:Transfer / Selling business to the new owner & Clearance>?

01/05/2019 13:03:30
Hi Iwona,

Thanks for your question.

Information on the various statutory/non statutory clearances which are available/necessary to obtain can be found at:

How to apply for clearance or approval of a transaction from HMRC

If, as a matter of course, you want to ensure that the Corporation Tax affairs are up to date prior to sale, you should apply for confirmation to the below address:

Corporation Tax Services
H M Revenue & Customs

You will have to apply separately if you want similar assurances for VAT/Employers liabilities.

See below for additional references/information on the gov.uk site:

Corporation Tax when you sell business assets

Selling your business: your responsibilities

If you are unsure about any aspect relating to the sale of shares/disposal of the business, we recommended that you seek professional advice and/or visit the GOV.UK website.

I hope this helps.