Registering for VAT

[mrcheeks147]

Please advise on this scenerio:

Limited company never registered for VAT however have been charged VAT for products/services bought in the past.

Once registered for VAT, can the limited company retrospectively claim back VAT charges in the past by other companies from HMRC, say within the last 2years?

Thanks

[Clare@InTouch]

Yes, in some circumstances. Here you go: HM Revenue & Customs: Purchases made before VAT registration

"You can generally reclaim VAT on goods you bought up to four years before you registered for VAT, and services you bought up to six months before you registered."

[Martin at NixonWilliams]

Please advise on this scenerio:

Limited company never registered for VAT however have been charged VAT for products/services bought in the past.

Once registered for VAT, can the limited company retrospectively claim back VAT charges in the past by other companies from HMRC, say within the last 2years?

Thanks

Yes this is possible providing the purchases were made for the business, you can actually go back as far as four years depending on the type of costs incurred.

The following link explains the rules - HM Revenue & Customs: Purchases made before VAT registration

Make sure you do not confuse goods with services as the rules are different.

I hope this helps.

Martin

[mrcheeks147]

Yes this is possible providing the purchases were made for the business, you can actually go back as far as four years depending on the type of costs incurred.

The following link explains the rules - HM Revenue & Customs: Purchases made before VAT registration

Make sure you do not confuse goods with services as the rules are different.

I hope this helps.

Martin

Great - Thanks a lot guys!