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At HSA & Co we can advise companies in the Saffron Walden 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 Saffron Walden area and would like further advice on VAT group registration, please contact HSA & Co.
The Institute for Fiscal Studies (IFS) has suggested that the current UK tax system discourages employment, investment and corporate risk-taking and needs reform.
27 Jan 2021
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