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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4957
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We have a partnership client who had 'opted to tax' a

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We have a partnership client who had 'opted to tax' a few years ago when they purchased a commercial property so that they would not have to pay VAT on the purchase price. Now the partnership is in the process of buying another commercial property but do they need to 'opt to tax' on the new property and get another VAT number (which means they will have 2) or is it covered by the first VAT number?
Hello Paul, I'm Keith and happy to help you with your question.
Assuming that the original number is ***** there is no requirement to re-register and get another VAT number. The old one can be used to reclaim the input tax on the newly acquired property, if any.
I do hope that I have assisted you with your query.
Customer: replied 3 years ago.

Therefore, will the second property purchased definitely be covered by the first VAT number?



If acquired by the same partnership, Paul, and the VAT number still extant, yes. You have it to a T as the Victorians would say.
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