Two or more body corporates can elect to register as a single taxable entity using the same registration number if they meet the relevant requirements. This document discusses these in detail, together with the advantages and disadvantages of forming a VAT group; the relevant conditions for joining a VAT group; and the group registration procedure.
Points discussed within this guidance note:
> What is a VAT group?
This note sets out the conditions for qualifying as a VAT group by electing to VAT register as a single taxable entity using the same VAT registration number if they meet the relevant requirements.
> Advantages and disadvantages
The note provides a brief overview of the main advantages and disadvantages of forming a VAT group.
>> Body corporate
>> Established in the UK
> Method of control
> Specified bodies and protecting the revenue
> Group registration procedure
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