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?
- Snotty HMRC letter - continued 743 18
- Underpaid taxes included in tax code connundrum 111 3
- Linux Accounting Software 544 13
- Dispensation pointless ? 493 13
- RTI due -no broadband 78 1
- Dividend paid to non-shareholder 450 12
- Shareholders selling shares to shareholders, how to account for it? 56 1
- Is Hold over relief available? 94 4
- can I claim a per diem 179 3
- HMRC corporation tax software - how to enter negative expense 246 7
- Personal returns late information - when to get tough? 842 10
- Playstation 4 - Allowable expense or not? 2,188 27
- Whats the best way to keep my accounts? 453 14
- Running Cost of Private Car more than 45p per mile?? 373 8
- How do I clear transaction history - Sage 50 v9 219 5
- Ltd co client preparing own self assessment tax returns 397 8
- Business Christmas Greetings 849 17
- When will Private Principal Residence Relief cut will start? 490 11
- SME Direct Debit 733 12
- Aweb Fantasy Practice 1,114 18
- Desperately seeking Susan, Sam or anyone with any other name 814
- Experience with Islamic investor following Sharia-compliant rules? 497
- Darwinpay Partnership Assessment 313
- How to format a stock book 276
- S464A Charge to tax: conferring benefit & BIK 223
- Tax efficient holding company structure 217
- Outlook 2007 with business contact manager not loading on new laptop 207
- Investment property company accounts template 205
- auto enrolment - calculation of first pension deduction 179
- Sage 50 Customer Statements and Running Balances 176