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Advantages and disadvantages of VAT grouping.
At Sheards we can advise companies in the Huddersfield 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 Huddersfield area and would like further advice on VAT group registration, please contact Sheards.
18 Jun 2021
The government is to extend the ban on commercial evictions introduced during the coronavirus (COVID-19) pandemic until March 2022, the Treasury has confirmed.
If you wish to talk to Sheards over the phone, request a call back using the form below.