The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
The Senior Accounting Officer (SAO) measure only applies to qualifying companies. To qualify a company must be incorporated in the UK as described in Companies Act 2006, s 1(1) .
In addition a company is a qualifying company if, for the preceding financial year, it has either:
Typically this will be companies with an HMRC Customer Relationship Manager (CRM).
Please note that it is possible for a company to be qualifying company even if:
A joint venture may be within the scope of the SAO provisions and the responsible officers will be required to determine whether the joint venture meets the conditions.
The following definitions apply in relation to test for qualifying companies.
This is, as defined in Companies Act 2006, s 474 , and this states that turnover means the amount derived from the provisions of goods or services within the company's ordinary activities after deduction of trade discounts, VAT and other
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