You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
01525 717666 - email@example.com
Advantages and disadvantages of VAT grouping.
At GKP we can advise companies in the Ampthill area about group VAT registration. Here are some of the issues to consider.
VAT grouping occurs where two or more companies or limited liability partnerships (LLPs) are treated as a single taxable “person” for VAT purposes. A VAT group is treated in the same way as a single company registered for VAT on its own.
An unincorporated body, such as a sole trader or partnership, is also permitted to join a VAT group provided it makes taxable supplies and controls one or more companies or LLPs.
In general, the members of the group each have to have an establishment in the UK and be under common control. There are special conditions for VAT groups with an annual turnover of more than £10 million.
Advantages of group registration are:
As with most other areas of the tax system, VAT Groups are subject to detailed anti-avoidance provisions.
If you’re based in the Ampthill area and would like further advice on VAT group registration, please contact GKP.
08 Jul 2020
On 8 July Chancellor Rishi Sunak delivered a Summer Economic Update, which outlined measures designed to boost the UK economy following the coronavirus (COVID-19) lockdown.
22 Jun 2020
Considering the tax reliefs available to those working from home because of COVID-19.