VAT groups

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VAT groups can be a useful tool to avoid VAT losses in certain scenarios.  Broadly, a VAT group is where companies under common control are treated as one single VAT entity.  This has the effect that transactions between those companies are not supplies by the VAT entity and therefore no VAT is charged.  New rules from 1 November 2019 now allow individuals or partnerships to join a VAT group in certain circumstances.

As with all of our tax tips and web pages this information is necessarily summarised and of a general nature.  If you would like detailed specific advice please contact us.