Small VAT Payments
We are a VAT registered NFP Company but, due to the mix of VATable and non-VATable income, our quarterly VAT liabilities can fall to just £100's. I was recently told that if the liability is below a certain amount that it can be written back to the I&E and needn't be paid.
Is this true? I can't find anything on it, but that doesn't surprise me!
If it is, then can we reclaim past payments? And if so, how far back can we go?