When registering a company for VAT, I understand that VAT on goods can be reclaimed for purchases up to 4 years old (as long as you still have the goods etc..) I also understand that Vat on services can be claimed up to six months. If the company has been purely researching, developing and marketing a product, no goods have been sold and only prototypes exist, how would this fit in with a retrospective repayment claim?
Thanks
Replies (1)
Please login or register to join the discussion.
making taxable supplies
So long as it is their intention to make taxable supplies the 4 yr and 6 month rule applies to them as it does any other business unless registered as an intending trader.