You’ve formed a company to develop a new business unconnected with your existing firm. Even if it’s viable it won’t generate income for months or even more than a year. Can you register and reclaim
the VAT on development costs?
Published 14.11.2022
You’re completing your company’s first VAT return and have asked HMRC whether you can reclaim the VAT on software you bought about a year ago. It has told you “no”, but is it correct?
Published 16.09.2014
The European Court of Justice (ECJ) recently delivered a shock decision which could open the way for UK businesses to reclaim the VAT paid on goods they bought and used before they were registered.
What’s the full story?
Published 12.11.2010
Many new companies incur significant amounts of input VAT on start-up costs before they make any taxable supplies. Do you really have to wait to get your cash back from the VATman?
Published 30.03.2006
You’ve set up a company to run a new business venture. It’s risky and may come to nothing. In the meantime the company is incurring significant costs. Can you recover the VAT, and if so when?
Published 22.01.2019
In a recent tribunal case the VATman used a different interpretation of the law concerning claims for pre-registration input VAT. Will this affect any claim you’ve already made or could make in
future?
Published 21.10.2004
The VAT registration limit was lifted to £77,000 in the Budget You don’t have to wait until your turnover reaches this limit to sign up - did you know you can even register before you start trading?
What’s the advantage in this?
Published 19.04.2012
Registering for VAT can be voluntary or compulsory. Either way it will take time for HMRC to get you in the system and issue a registration number. How should you deal with invoicing your customers
during this period?
Published 28.03.2019
In 2011 HMRC changed its guidance on how much pre-registration VAT businesses can reclaim. However, in November 2016 it issued a statement saying its revised guidance was wrong. What’s the position
now?
Published 09.01.2017
When you start a new business venture, it usually involves incurring certain costs before the company has even been formed let alone registered for VAT. So how far back can you go?
Published 25.10.2007