News
Customs news
VAT grouping
Customs have announced changes in the eligibility rules for VAT grouping, but these do not apply to any business which is not part of a VAT group and is not applying to join one, and will only apply to VAT groups whose total turnover exceeds £10 million a year.
News
Customs news
VAT grouping
Customs have announced changes in the eligibility rules for VAT grouping, but these do not apply to any business which is not part of a VAT group and is not applying to join one, and will only apply to VAT groups whose total turnover exceeds £10 million a year.
The changes, in The Value Added Tax (Groups: Eligibility) Order SI 2004 No 1931, came into force on 1 August 2004 and modify the conditions that certain corporate bodies must satisfy in order to be eligible to remain in or join a VAT group. Customs VAT Information sheet 07/04 provides guidance and is available on the Customs website at www.hmce.gov.uk/forms/notices/info0704.htm.
(Customs Business Brief 19/04 dated 26 July 2004.)
