| Stage 1 |
Do the businesses have a joint venture agreement? |
If 바카라 사이트˜No바카라 사이트™ then go to stage 6 |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ then go to stage 2 |
Ìý |
| Stage 2 |
Do the terms of the joint venture agreement create a partnership? |
If 바카라 사이트˜No바카라 사이트™ then the joint venture is not a new entity, so it cannot register for VAT.\nGo to stage 6 to determine whether the beneficial owner(s) should be registered |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ then go to stage 3 |
Ìý |
| Stage 3 |
Is the partnership making taxable supplies? |
If 바카라 사이트˜No바카라 사이트™ then the partnership is not liable to register for VAT\nGo to stage 4 |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ then the partnership must register separately if the taxable supplies exceed the registration threshold\nGo to Stage 5 |
Ìý |
| Stage 4 |
Do the parties hold purchase invoices issued in the name of the partnership or joint venture? |
If 바카라 사이트˜No바카라 사이트™ each partner will deduct input tax in the usual way |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ the invoices must set out clearly how much input tax each partner can recover |
Ìý |
| Stage 5 |
Have purchase invoices been issued in the name of the partnership or joint venture? |
If 바카라 사이트˜No바카라 사이트™ they cannot be used as evidence for deduction of input tax. A solution to this would be to ask the suppliers to amend the customer name on their sales invoice |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ the partnership can claim the VAT on these invoices as input tax |
Ìý |
| Stage 6 |
Will the sales or rental income be taxable? |
If 바카라 사이트˜No바카라 사이트™ then no new VAT Registration will be needed |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ then go to stage 7 |
Ìý |
| Stage 7 |
Is legal and beneficial interest in the land held by the same person(s)? |
If 바카라 사이트˜No바카라 사이트™ then go to stage 8 |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ then go to stage 9 |
Ìý |
| Stage 8 |
If legal title is held by one or more trustees, is the benefit of the sales, rental income, or both enjoyed by another person, i.e. the beneficial owner(s)? |
If 바카라 사이트˜No바카라 사이트™ then either;\nThere is a single trustee who receives the benefits from the proceeds of the land, and who makes supplies above the registration threshold. This trustee will be required to register for VAT in respect of those supplies\nWhere there is more than one trustee making taxable supplies above the registration threshold they are required to register jointly. They cannot use their individual existing VAT registration numbers to account for VAT on the supplies they make jointly. We will usually register the joint trustees as a partnership |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ then go to stage 9 |
Ìý |
| Stage 9 |
Is there a single beneficial owner making supplies above the registration threshold? |
If 바카라 사이트˜No바카라 사이트™ where there is more than one beneficial owner and they are jointly making supplies above the registration threshold, then the beneficial owners are required to register in their joint names. They cannot use their existing registration to account for the supplies they make jointly. We will usually register the joint beneficial owners as a partnership |
| Ìý |
If 바카라 사이트˜Yes바카라 사이트™ they will be required to register in respect of those supplies if they are not already registered |
Ìý |