Backdating vat

His business grew and he employed a bookkeeper to help him at £500 plus VAT from 1 September 2016.

Graeme was required to register for VAT His VAT registration date was 1 August 2017.

For this purpose, goods will include materials you have in stock and also any capital purchases you have made, such as a shop fit-out, sewing machine or computer.

For the goods you have purchased you can go back four years provided the goods have not been “consumed”.

prior to VAT registration, should be restricted for any contribution the assets will have made to sales prior to registration, but it is not impossible to recover a proportion of the VAT charged.

You should make a claim on your first VAT Return (add them to your Box 4 figure) and keep records including: If your pre-registration purchases and other costs are significant, this facility can produce a reasonable cash flow benefit.

Please call if you would like our help to assess any possible claim you could make, in particular, the recovery of VAT paid on the purchase of pre-registration equipment.

We can also advise how to make the correct entries in your accounts software, if you use this to file your VAT return.

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