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VAT grouping response

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In response to HMRC’s call for evidence on VAT grouping, the Law Society does not favour:

  • moving to compulsory VAT grouping, because it would reduce business flexibility; or
  • elective VAT grouping on an all-or-nothing basis, where all members under the same control must be part of the group.

The Society also questions revisiting the VAT grouping treatment of limited partnerships, and their general partners, as part of a package of measures covered in the call for evidence. Such issues should be addressed as part of the wider review of the indirect tax regime for fund management in the UK, says the Society.

Issue: 1512
Categories: News