Backdated voluntary VAT registration and final accounts
I note it is possible to backdate a voluntary VAT registration for up to 4 years.
Could someone help me by setting out the basic principles for the following situation.
Given that accounts for a non-VAT reg business are prepared in a different way - for example, purchases would go into P&L a/c inclusive of VAT; capital expenditure would begin its life at its VAT inclusive cost ...
If the business has been ticking over for one or two years and is subsequently VAT registered, backdated to include these earlier years, what are the implications for stock valuations, fixed asset valuations in the current years accounts?
Do the previous years accounts have to be amended, or can it all be dealt with in the current years accounts?
- Coming in from the cold 302 3
- Splitting the tax year 150 2
- P11d & Medical Ins 181 2
- Should design costs be capitalised? 160 4
- Sale of assets - availability of AIA to the purchaser 147 2
- Submitting tax return 106 1
- Ex Client from over 3 years ago 202 3
- Keep receiving RTI late submission notice 255 8
- Director's tax return 329 7
- Reporting no P11d due when PAYE scheme closed by HMRC 5Apr2013 106 1
- Sage Payroll 313 11
- Payroo Employer allowance query 207 6
- Small employers paying people when sick thanks alot! 3,066 33
- vat return 262 3
- Flat rate vat 153 1
- Value pricing 732 26
- RTI Annual Scheme Query 164 4
- PAYE coding notice - deliberate misstatement 241 4
- Private residence relief with entrepreneur relief mix 293 4
- Reregister for VAT 164 2
- Residential Property Purchase Above £750K 805
- Using Sage with Sofa Categories 557
- Does anyone have an unwanted ICAEW wooden plaque? 426
- Goods shipped inter EU and VAT Reporting 304
- Free Tax Legislation? 273
- Director Loan account operation 255
- transferring simply accounting 2010 from xp to windows 7 252
- Non-Resident Director - UK Tax Position? 245
- Sage 200 and Access Dimensions reviews 231
- Paye procedures for CVA 169