First VAT return - question about Fuel

SuperSaver123

schneckster wrote: »

You can claim VAT for 3 months before registering for VAT. Just include it on your first return.

As far as I am aware you can go back to 6 months before the registration date.. That's what always has been advised by HM R&C Officers..

schneckster

When I started up, I was told 3 months, but it was a couple of years ago so things may have changed.

This is a good example of why a quick call to the HMRC on the helpline is worth it. I'd have only claimed 3 months worth of receipts instead of 6 had I been doing this now.

Schneckster

JasonLVC

SuperSaver123 wrote: »

As far as I am aware you can go back to 6 months before the registration date.. That's what always has been advised by HM R&C Officers..

You can reclaim input tax (VAT on purchases) relating to services 6 months prior to your effective VAT registration date (the date you are registered from as shown on your VAT registration certificate).

You can reclaim input tax (VAT on purchases) relating to goods 3 years prior to your effecitive VAT registration date. The caveat being that you must still have the items in your possession/in use. So if you have bought a van, laptop or office furniture then if you still have those items you can reclaim the VAT providing you still have the invoice. Any building/construction work is a service, not a supply of goods by the way.

If you have purchased stock and since sold it/used it, then you cannot reclaim the VAT on those items, but if you have current stock that hasn't been used/sold as yet, then you can recalim the VAT.

lisa76

Sorry to be a nuisance but I would like someone to check my figures (trying to get through to the VAT at the mo is proving difficult - I've sent an email so waiting for a reply for my records as well)

I have calculated the following (to date so obviously it will change slightly by the end of the month) and want to make sure it is correct.......
Total cost of fuel 570.95
Business Mileage 3007 miles
Private Mileage 843 miles
Cost of business mileage 570.95 x (3007/3850) = 445.93
Input VAT (to reclaim) 445.93 x (3/23) = 58.16

So I am able to reclaim £58.16 yes?

martindow

If you are claiming this way I think you can also claim a proportion of any other VAT expenses on the car - maintenance and repairs for example (but not insurance which does not have any VAT).

But double check with the VAT helpline please!