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We offer a range of high quality accounting, financial and business services in and around Milton Keynes.
At B2B Business Advisors Limited we can advise companies in the Milton Keynes 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 Milton Keynes area and would like further advice on VAT group registration, please contact B2B Business Advisors Limited.
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Keep up to date on the latest from the world of business and tax with our daily news stories.
20 Apr 2018
The British Chambers of Commerce (BCC) has stated that a significant number of UK businesses are 'not seeing improvements' in the UK's mobile network.
19 Apr 2018
The Institute for Public Policy Research (IPPR) has proposed the creation of a new wealth fund to help address 'growing wealth inequality'.
18 Apr 2018
Figures published by the Office for National Statistics (ONS) have revealed that the UK's wage growth rate rose at a faster pace than inflation during the three months to February.
17 Apr 2018
In a new report, the Office of Tax Simplification (OTS) has called for the government to carry out 'urgent work' in order to simplify the business tax system for UK firms.