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  • S455 tax

    Is Company A, a UK-incorporated entity fully owned by non-UK Company B, obligated to pay S455 tax on an outstanding loan provided to an individual who, although not a director or shareholder of Company A, holds shares in Company B? The loan remains unpaid beyond 9 months from the end of the financial year, and it's important to note that lending money is not the primary focus of Company A's operations.
  • VAT Registration Query for Two Companies with Different Activities

    I'm seeking some guidance regarding the VAT registration for two limited companies with distinct activities. Company A, established a while ago, is involved in construction works for private clients and is VAT registered. Company B, founded two years ago by the same shareholder/director, focuses on manufacturing shelves and sells them online. Company B is currently not VAT registered. Both companies maintain separate business bank accounts. It's worth noting that the customer bases for these companies are entirely different. Additionally, both companies are registered under the same address. My primary question is: considering the different business activities, the separate customer bases do you think it is necessary to register Company B for VAT, or can it be treated as a separate entity with a different activity? I am also curious about how HMRC might view this arrangement. Could this be considered as VAT disaggregation, given the shared address, even though the companies have distinct activities and customer bases?