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Where Taxpayers and Advisers Meet

Reclaiming VAT from capital expenditure

chorne1966
Posts:18
Joined:Tue Aug 18, 2015 1:29 pm
Reclaiming VAT from capital expenditure

Postby chorne1966 » Fri Jan 15, 2016 9:36 pm

I have a business that incurred significant expenditure during set up and prior to our VAT registration. I'm now looking at claiming this VAT back. Are there any prescribed forms that I need or do I just need to claim it back against our quarterly VAT return. Any advice would be appreciated.

Chris

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Reclaiming VAT from capital expenditure

Postby robbob » Sat Jan 16, 2016 10:24 am

do I just need to claim it back against our quarterly VAT return
Yes

Worth a read of the following links - to see what Brucie bonuses you can claim or where restrictions may be in place (eg assets with use pre registration use)

http://www.hmrc.gov.uk/manuals/vitmanual/vit32000.htm
https://www.gov.uk/vat-registration/pur ... gistration

chorne1966
Posts:18
Joined:Tue Aug 18, 2015 1:29 pm

Re: Reclaiming VAT from capital expenditure

Postby chorne1966 » Sun Aug 14, 2016 3:32 pm

Is there are time limit for me reclaiming the VAT after VAT registration. I have read somewhere that it might be 3 years?

les35
Posts:639
Joined:Wed Aug 06, 2008 3:09 pm

Re: Reclaiming VAT from capital expenditure

Postby les35 » Mon Aug 15, 2016 8:42 am

Four years for goods; and six months for services. See the links provided.

section 44
Posts:4467
Joined:Thu Oct 30, 2008 12:47 pm

Re: Reclaiming VAT from capital expenditure

Postby section 44 » Mon Aug 15, 2016 9:07 am

Four years for goods; and six months for services.
There are exceptions to this, e.g. expenditure on capital goods scheme items


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