Hi,
I'm new to the forum, i have just VAT registered from march/april 2017 and i'm looking at reclaiming VAT on capital assets i still have in the business (equipment like a chipper, chainsaws etc) that may total ~£15000 gross (including VAT paid at the time). My query is, can i still claim the vat back on these items (within 4 years) if i have previously claimed the gross total of each item in my previous AIA annual investment allowance for earlier tax years on my self assessment tax return?
In other words i have already had the full benefit in writing off against profit but can i still claim back the VAT?
hope that make sense.
any help would be gratefully received as filing VAT return tomorrow!