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Updates to VAT Grouping and Divisional Registration Guidance: What You Need to Know

  • HMRC has updated VAT Notice 700/2: Group and divisional registration
  • VAT grouping allows eligible persons to be treated as a single taxable person for VAT purposes
  • Divisional registration allows a corporate body to register each of its self-accounting units separately for VAT
  • Updates include information on what happens if HMRC refuses an application and how to request a paper VAT1 form
  • The list of notifications a business may receive while waiting for a VAT grouping registration number has been updated
  • A new section about late payment submission penalties has been added.

Source: marcusward.co

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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