VAT Question

[sgooduk]

Hi Guys,

I have just set up my ltd company, (operating around 2 months) I am registered for flat rate VAT.

My Question is this, I have had to purchase a laptop for my business, now as I dont have much money yet or business credit history, I have had to take a buy now pay later deal (personally). Hence can i claim the VAT back on the purchase (its over 2k), and it is solely for business use and will belong to the company. (Company will settle finance agreement)

Thanks

Scott

[Craig@Clarity]

Hi Scott,

You can purchase it and claim the VAT back through your company. Get the receipt in the company name. When you have paid for it, you can have the company reimburse you for the cost when it has the cash.

[tyut4669]

If you are registered for flat rate VAT scheme, my understanding is that you can not claim the VAT cost back. Is that not correct then?

[davetza]

If you are registered for flat rate VAT scheme, my understanding is that you can not claim the VAT cost back. Is that not correct then?

You can still claim back VAT on most capital purchases over £2,000. See

HM Revenue & Customs: Flat Rate Scheme for VAT