Would be grateful for assistance.
A small IT company has a subsidiary which owns and lets a couple of residential properties. At the moment the IT company is registered for VAT and its subsidiary is not. If I went for a group registration with the IT company and the property company, given that the turnover will be mainly from the IT company and the VAT recovery will be less than £625 on average per month from the residential company, would the group be able to recover the VAT on expenditure in the residential properties. I read somewhere it would be able to but just need confirmation as it is quite nifty tax planning point.
Thanks in advance.
Pete
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