Transfer of business liability: transferor and transferee share tax liability; transferee must account for post-transfer supplies and update registration.

Where a taxable person transfers a business, the transferor and transferee are jointly and severally liable for tax, interest and penalties due up to the date of transfer, including amounts determined after transfer that relate to the pre-transfer period. The transferee is liable to account for tax on supplies from the date of transfer and, if registered, must apply within the prescribed time to amend the certificate of registration.

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