VAT Registration Is it worth it?

stevebennett8

Hello. Hope someone can help with advice..
we are a new charity looking to buy a canal boat for residential respite trips by young people with disabilities. have been offered a beautiful boat but can't afford the cost price, however the vendor has offered to provide a vat receipt which he thinks allows us to reclaim the vat if/when we were to register for vat? is there a catch i have not seen?
:A

accountingbod

you may not even have to be VAT registered as some charities can claim reliefs for VAT due to their charity status.
i would read this for a really good guide to your question:

http://www.hmrc.gov.uk/charities/vat/intro.htm

accountingbod

in fact this page in the guide may be of great help

http://www.hmrc.gov.uk/charities/vat/charity-funded.htm#2

There is a section that states: I would read the below and then talk to HMRC as they really are a very helpful bunch of people IMO
Certain goods for use by disabled people

Certain medical and surgical appliances designed solely for the relief of disability or injury, and certain equipment designed for disabled people - for example, chair lifts, hoists and lifters - may be zero-rated.
Specially designed and adapted motor vehicles and boats may also qualify for VAT relief.
Find out more in VAT Notice 701/7 VAT reliefs for disabled people