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VAT Cash Accouting Scheme and Purchasing Machinery

VAT Cash Accounting - machinery

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Good Afternoon,

My Client is on the cash accounting scheme.  They have purchased some machiner for the value of £285000 plus VAT.  Are they able to claim the whole of the vat back in one quarter or just when they pay the installments monthly.  It is on an Asset Purchase Agreement.  I have tried to contact HMRC but they would unable to provide an answer and just refered me to Vat Notice 700.  But sorry couldnt find the answer.  Thank you 

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By lionofludesch
29th Jan 2020 12:56

Pretty basic stuff but, assuming this is a HP agreement, you can claim it straight away.

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