VAT reg query

missk_ensington

Hi,

I started a new business this summer manufacturing, wholesaling and retailing ladies clothing. The last few months Ive been setting up the business and I will be trading for Xmas hopefully. I am obviously not registered yet for VAT because I havent sold anything, although I have orders in principal and my projections suggest my turnover would warrant registering for VAT in the New Year.

What I wantn to know, is if I registered for VAT now, or in January, would I be able to reclaim all the VAT I'll paid out since April? I've paid thousands in VAT on stock, websites, legal fees, premises leasing... can I claim this back, or is it only the VAT youve paid out after the date of registration?

All posts thanked x

rosysparkle

You can reclaim the VAT on certain things you purchased prior to the date of registration.

Briefly, goods you have bought but not sold: you can go back three years

Services you have not used up (so not consumables like leccy and gas, or anything that relates to goods you no longer have): you can go back six months.

HMCE has a very handy website with relatively clear explanations, this is the bit you want: http://www.hmrc.gov.uk/vat/reg-reclaim.htm