Group VAT registration enables two or more entities, such as limited companies or LLPs, to be treated as a single company for VAT purposes. That means the group only needs to submit one combined VAT return for each period.
In general, all entities using Group VAT registration must be established in the UK and under common control. There are special conditions for VAT groups with an annual turnover of more than £10 million.
The key benefits of Group VAT registration are:
AccountsIQ is an HMRC approved accounting software vendor. All our MTD capabilities support HMRC’s ‘digital links’ requirements. Digital links ensure that information is not transferred manually (such as by copy and pasting data from spreadsheets or other systems) as this process is error prone.
As we also specialise in accounting software for groups, our HMRC compatible accounting software enables users to fully comply with the complex rules governing Group VAT returns.
Once established the digital links between your AccountsIQ entities and HMRC are maintained for future VAT submissions (with your valid Government Gateway credentials).