Hi All
Does anyone know if import VAT paid on fixed assets purchased prior to VAT registration can be reclaimed now the client is VAT registered? The assets are still owned and used by the business and were purchased within 4 years of registration date.
HMRC have raised a query on the VAT return already submitted and are now checking with their "technical dept" if it can??!! Reading the various relevant VAT notices there is no mention of import VAT specifically, only fixed assets.
Any help appreciated.
Replies (6)
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The answer is yes providing that you show evidence that the VAT in question was paid on the importation.
There is material about the C79 in HMRC Notice 702, chapter 8.
Pre-registration input tax is in Notice 700, chapter 11.
The more nuanced comments are years of experience lodged in Shaun's and my brains!