Goods In Use

[John Jupp]

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Just in case anyone is thinking of registering for VAT ( my first VAT year ) did you know that for 3 years prior to VAT registration if you buy stuff for your business like computers, mobile phones etc and still use them you can claim back the original VAT on the purchases?

My accountant happily told me that today

So Darling, I want my money back!

[Travel Pixel]

You can also claim back 6 months of service VAT.

So if you have been using YSM for example (who charge VAT regardless of whether you are registered or not), you can claim 6 months back from the date you register.

That was music to my ears too!

Dave

[DioBach]

Just in case anyone is thinking of registering for VAT ( my first VAT year ) did you know that for 3 years prior to VAT registration if you buy stuff for your business like computers, mobile phones etc and still use them you can claim back the original VAT on the purchases?

My accountant happily told me that today

So Darling, I want my money back!

I've got my first return to do as well. I was under the impression my accountant had got me onto the flat rate scheme (9% for advertising) so I wasn't expecting to claim back the stuff I've bought for the business. However, the VAT people rung yesterday and told me I wasn't on that scheme, so now I can do that...

iMac, laptop, scanner, printers, software, etc... Should be a nice little bonus, and then I can go on the Flat rate scheme at a later date too!

Just a shame my accountant's on holiday, got to get it sorted by the end of the month.

[John Jupp]

I'm on the full rate. Mind you that's cos I also do retail.

[fizzbird]

Just in case anyone is thinking of registering for VAT ( my first VAT year ) did you know that for 3 years prior to VAT registration if you buy stuff for your business like computers, mobile phones etc and still use them you can claim back the original VAT on the purchases?

But if you were self-employed before wouldn't you have already included the vat element in the cost when calculating a capital allowance?