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Can VAT be claimed on capital purchases made prior to when the actual VAT registration takes place?
Posted 26 September 2013
Hi there, my brother started his own company and wishes to register for VAT. His company was registered on the 16 July this year. Prior to this he made purchases of machinery. Is there a possibility that that the vat registration could be applied retrospectively so that this VAT can be claimed? Also can the VAT on machinery purchases be claimed if the purchase was made after the company registration? Thank you!
TaxTimsays: 26 September 2013 at 22:39
You are able to claim VAT on pre-incorporation/registration amounts up to 1-2 years.