Commentary

V7.171 Group registration—property transactions

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.171 Group registration—property transactions

Part V7 Tax planning | Commentary

V7.171 Group registration—property transactions

An option to tax election made on land or buildings by a member of a VAT group will apply to all other members of the same VAT group. The election will also apply to future group members, ie those that join the group after the election has been made. The election will also remain valid for those companies that may leave the VAT group in the future.

The capital goods scheme is a complex part of the VAT legislation and a scheme adjustment may be needed when a company leaves or joins a VAT group.

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