The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Invoices for VAT Return
Post Info TOPIC: Invoices for VAT Return
buckland10


Veteran Member

Status: Offline
Posts: 53
Date:
Invoices for VAT Return
Permalink  

The company I work for has just registered for VAT and as a result is looking to claim back some of the VAT on set-up costs prior to registration, such as ovens (it's a caterer) and other equipment.

So many of the smaller purchases have receipts but not VAT receipts.  Is there nothing I can do, apart from go back to the original suppliers (some purchases are more than 6 months old), or do I just exclude them from the VAT return?

Many thanks in advance.

__________________
BackOfficeGroup


Guru

Status: Offline
Posts: 882
Date:
Permalink  

Hi

Can you confirm whether the business has just set up or whether they have now become VAT reg because they are over the threshold? The answer could depend on that.

If you just have receipts, it may well be that the supplier is not VAT registered themselves.

P

__________________
buckland10


Veteran Member

Status: Offline
Posts: 53
Date:
Permalink  

Business went over threshold so not newly set up.  Receipts are from places like Argos and Homebase for various bits of kitchen equipment.

__________________
BackOfficeGroup


Guru

Status: Offline
Posts: 882
Date:
Permalink  

You are able to claim for such things as equipment, catering or IT for example, so long as you still hold and use them for the business, have the VAT receipt from when you purchased them. The invoice must be in the name of the business.

You then need to produce a list to support your claim and add the figure to box 4 of the 1st VAT return. Keep the list in a safe place.

P

__________________
Blacker9999


Veteran Member

Status: Offline
Posts: 48
Date:
Permalink  

P
My client also recently went over the threshold and has registred for VAT.
Vat start from 1st July this year could he claim back suppliers invoices before that date.

He has a restaurant business.
He took it over in March.
Registered in July.

If he claimed back expenses on his suppliers invoices surely the vat man would like to have some of his income as well?

Ronnie

__________________

WWW.RBBOOKKEEPERS.CO.UK
Donna CBK


Senior Member

Status: Offline
Posts: 426
Date:
Permalink  

information as per HMRC website:
Reclaiming VAT on goods you bought before registration
You can reclaim VAT on goods you bought or imported no more than four years before you were registered for VAT if all the following are true:

the goods were bought by you as the entity that is now registered for VAT (for example, the individual, business or organisation)
the goods are for your VAT taxable business purposes, which means they must relate to VAT taxable goods or services that you supply
the goods are still held by you or they have been used to make other goods you still hold
You can't reclaim VAT on any of these goods:

goods that you've completely used up before you registered for VAT (such as petrol, electricity or gas)
goods that you have already sold or supplied before being registered, or have used to make goods you have sold or supplied before being registered
goods that relate to supplies you make that are exempt from VAT


__________________

 

Donna Curling - Complete Book-Keeping Ltd (CBKLtd) - 07939 101900

Payroll & bookkeeping solutions - info@completebookkeeping.co.uk

www.completebookkeeping.co.uk

IAB Training centre - Ringwood

 
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Invoices for VAT Return
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About