Vat Retrospective Reclaim

Vat Retrospective Reclaim

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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?

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By shaun king
31st Jul 2014 14:11

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.

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