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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 (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 Surrey area and would like further advice on VAT group registration, please contact Branston Adams.
24 May 2022
A Treasury minister has stated that the government 'cannot rule out' a windfall tax on gas and oil companies in order to help with the cost-of-living crisis.
23 May 2022
Household energy bills could change every three months under new plans proposed by the energy regulator Ofgem.
20 May 2022
The government should immediately support those hardest hit by the cost-of living crisis, according to the Confederation of British Industry (CBI).
Get in touch with Branston Adams to arrange your free consultation.