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Can a CIO become VAT registered?

We pay a lot of VAT and want to claim it back!

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I'm responsible for the accounts for a small, releatively newly established CIO (Charitable Incorporated Organisation) and having established all the other obligations, we now have the time to explore the other benefits of becoming a CIO.

We'd very much like to know if we can claim back our VAT on business purchases.

Thanks

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By dmitchell
11th Jun 2019 10:17

https://www.accountingweb.co.uk/any-answers/can-cios-claim-back-vat-for-...

Were you not happy with the free advice you received last year?

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Replying to dmitchell:
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By JamieSt
11th Jun 2019 11:25

I was, yes and also very grateful but I couldn't locate it I'm afraid.

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By paul.benny
11th Jun 2019 10:20

More or less anyone can register for VAT (and indeed, you must if your taxable supplies exceed £85,000 a year) but you can only recover VAT if you are making taxable supplies. Charitable status does not, of itself, allow you to recover VAT.

VAT guide 701/1 explains clearly how VAT affects charities. You might want to take a look at this and then come back if you have questions relating to your specific circumstances.

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By Accountant A
11th Jun 2019 12:00

I pay a lot of VAT and would like to claim it back too. I can't, unfortunately.

If you don't understand the fundamental principles of VAT then you aren't likely to make much of a stab at working out the issues around VAT registration for your organisation.

You need to find a local accountant who might be prepared to assist you pro bono.

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Replying to Accountant A:
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By JamieSt
11th Jun 2019 13:32

Thanks for this, we do have an accountant who is very reasonable. I'll ask him.

Can I ask why you don't claim your VAT back?

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Replying to JamieSt:
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By Accountant A
11th Jun 2019 19:02

JamieSt wrote:

Thanks for this, we do have an accountant who is very reasonable. I'll ask him.

Can I ask why you don't claim your VAT back?

Because I don't make taxable supplies or meet any other of the criteria.

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