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At Branston Adams we can advise companies in the Surrey 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 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.
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 Surrey area and would like further advice on VAT group registration, please contact Branston Adams.
27 Feb 2020
The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the forthcoming Budget to raise taxes.
26 Feb 2020
Government spending will increase to over £1 trillion a year by 2023/24, the Resolution Foundation has predicted.
25 Feb 2020
Chancellor Rishi Sunak has promised that penalties for IR35 breaches will not be 'heavy handed' during the first year of the implementation of off-payroll rules to the private sector.
Get in touch with Branston Adams to arrange your free consultation.