Martin Dane Director VAT Services BDO Stoy Hayward points out how important it is to identify the VAT position in partnerships
This article highlights a number of key areas and I hope serves to illustrate that taking a little time to identify the VAT position and compliance needs of particular partnership structures at the planning stage will help to prevent future difficulties.
Identifying a partnership
In principle identifying a partnership for VAT purposes should be straightforward:
● Does the business constitute two or more persons acting in business together with a view to profit?
● Do those persons share any net profits or...
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Martin Dane Director VAT Services BDO Stoy Hayward points out how important it is to identify the VAT position in partnerships
This article highlights a number of key areas and I hope serves to illustrate that taking a little time to identify the VAT position and compliance needs of particular partnership structures at the planning stage will help to prevent future difficulties.
Identifying a partnership
In principle identifying a partnership for VAT purposes should be straightforward:
● Does the business constitute two or more persons acting in business together with a view to profit?
● Do those persons share any net profits or...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")