Start Up Costs

[Sockpuppet]

Sorry if that has been covered before, searched but didnt find. Got a meeting with my accountant on Tuesday to set up my own Ltd and register for VAT (as I'm B2B only).

How "far back" can you claim VAT for as part of the start up costs. I've attended a PRINCE2 course and bought a new laptop and random associated items within the last month. Can I claim the VAT back on these or does the VAT reciepts have to be after the date the company was formed.

Sockpuppet

[SasGnu]

After the date.

Mooooooo. Im a Gnu.

[mauryballstein]

You can go back up to 3 yrs to claim pre incorporation VAT for legit. costs.

From HMRC site:

4.2 VAT paid before registration

Subject to certain conditions you can reclaim any VAT you are charged on goods or services that you use to set up your business. Normally, this will include:

* VAT on goods you bought for your business within the last 3 years and which you have not yet sold; together with
* VAT on services, which you received not more than 6 months before your date of registration.

You should include this VAT on your first VAT return. Notice 700 The VAT Guide gives more information on this.

[Sockpuppet]

You can go back up to 3 yrs to claim pre incorporation VAT for legit. costs.

From HMRC site:

4.2 VAT paid before registration

Subject to certain conditions you can reclaim any VAT you are charged on goods or services that you use to set up your business. Normally, this will include:

* VAT on goods you bought for your business within the last 3 years and which you have not yet sold; together with
* VAT on services, which you received not more than 6 months before your date of registration.

You should include this VAT on your first VAT return. Notice 700 The VAT Guide gives more information on this.

Thanks both. I'll take details to the accountant.