Joint and several liability: transferee and transferor remain responsible for pre-transfer tax liabilities and compliance after business transfer. Both transferor and transferee are jointly and severally liable for tax, interest and penalties relating to the business up to transfer, including amounts ... Summary
Joint and several liability: transferee and transferor remain responsible for pre-transfer tax liabilities and compliance after business transfer.
Both transferor and transferee are jointly and severally liable for tax, interest and penalties relating to the business up to transfer, including amounts determined after transfer; the transferee is liable for tax on supplies from the date of transfer and must, if registered, apply within the prescribed time to amend the registration certificate.
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