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Hitchin: +44 (0)1462 620 100 | Kensington: +44 (0)20 7937 3309 Contact us
Advantages and disadvantages of VAT grouping.
At Chancellers we can advise companies in the Hitchin 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 Hitchin area and would like further advice on VAT group registration, please contact Chancellers.
Do you have any questions for us?
Simply get in touch and the relevant team member will get back to you asap.
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