UK Transfer as a going concern to new company

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I have a potential buyer of my business and as I really want to retire I think it's a good time to let go.
The interested buyer is a customer and has no existing business.
How does the transfer affect a new star-tup business for VAT. I mean precisely does the transfer of a VAT registered company mean that the new company (purchaser) doesn't get the £85,000 relief when it starts selling in its own name?
I take it that the new company should preferably apply for their own VAT registration but when would that be necessary if it wants, and would be allowed to under the TOGC, benefit from the £85,000 relief.
Would it be OK to hold off the new VAT Registration until the limit is reached?
 

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