The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Reclaiming VAT
Post Info TOPIC: Reclaiming VAT
Sozzybobs


Member

Status: Offline
Posts: 22
Date:
Reclaiming VAT
Permalink  

Can anyone tell me if there is a time limit on when you can reclaim VAT on purchases? Or do they have to be put through the business accounts in the VAT quarter in which they were bought?



__________________

Sozzybobs
lor


Guru

Status: Offline
Posts: 941
Date:
Permalink  

On HMRC website it says that you have 3 years to claim back vat on purchases and expenses related to the business, but if it was connected to a service that was obtained then the time limit is 6 months.



__________________
Alison


Senior Member

Status: Offline
Posts: 357
Date:
Permalink  

HI

Not sure if it is still the case but I was told that the purchase/expense has to still be in the business ie petrol that has been used you can't claim the VAT back.

Alison

__________________
lor


Guru

Status: Offline
Posts: 941
Date:
Permalink  

yes that is right, because if you had used the fuel already before starting the business then the fuel isn't related to business use.

And it would apply to other purchases and expenses that had been used and no longer in the business..

-- Edited by lor on Saturday 24th of October 2009 10:32:27 AM

__________________
BHB


Member

Status: Offline
Posts: 10
Date:
Permalink  

We have external VAT specialists at work at the moment who are looking at our VAT which has a partial exemption and from what they have told me, you can go back 6 years if shown you have under claimed.

__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Reclaiming VAT
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