Going vat reg?

[samarb]

I think I'm with you now.

 

The answer to the original question in still no.

 

|Ha ha ha why didnt we both say that and be done with it lol.

[dickie]

i think you can claim back vat for the last three years on capital purchases eg tractor ,firewood procesor. But if you only sell firewood its at 5% and when you buy in timber its normaly 17.5% so you should always be in a claim back situation

[Stephen Blair]

3 years on assets, 6 months on fuel. If they think you should of been charging vat before this they will ask you to bill all those customers for the vat. no biggy for commercial but not easy for domestic, i know guys that have just paid it out there own pocket to save embarasement and the company reputation with their customers. Expect a Vat inspection and your paperwork/reciepts will need to be spot on.

[ukminch]

Expect a Vat inspection and your paperwork/reciepts will need to be spot on.

 

Yer because that's always fun, mine was an absolute nightmare, and I started going back to my old bad ways thankfully I've seen sense and now my accountant is getting everything!

 

R

[Stephen Blair]

the vat lady found another £1100 we hadnt seen, my vat claim paid for my first pto chipper. Definately worth doing some number crunching to see if it is worth it, you will loose out on jobs thats for sure, maybe not up to £200 but when you go over £500 it makes a big diference.