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Joining a Business and VAT registration

I recently joined my friends VAT registered plumbing business as a partner, and wanted to know if we should obtain a new VAT for the new partnership?

By joining your friends exisiting sole trader business as a partner, you are creating a new entity for VAT registration purposes.

We would therefore recommend that to avoid any VAT issues which may arises for a previous period, you should insist on a new VAT registration from the date you become a partner in the business.

For example, if any VAT errors become evident for the period before you joined, if you continue with the same VAT number you both are equally liable for the VAT debt, even though it was relevant to the period when the business was wholly owned by your friend as a soletrader.

In addition to obtaining a new VAT number, it is also possible to draw up a legal agreement to protect against this problem.

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0800 0523 555

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