For a sole trader submitting a late application for V.A.T. registration what are implications if
registration should have been in June 2002. In this example customers are V.A.T. registered and the work done is both zero and standard rated. V.A.T. is paid on materials and services purchased for business. Would trader suffer loss on V.A.T. payable for work done before April 2003 and not be able to reclaim V.A.T. on materials bought before that date.
Comments very much appreciated.
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