I am aware that I can claim VAT back on assets before registration upto 3 years etc. But just wanted to clarify that if I had an invoice for an asset that included installation of the asset could all the VAT be claimed?
From past and distant knowledge and experience, I would say yes.
Asset costs are not straight forward and all associated costs with the purchase of an asset seem to grouped together within certain circumstances.
For example, A guy buys a van and within the van installs equipment, the equipment is an asset along with the van and the installation costs are also an asset as they are associated because without the installation costs, the van and the equipment would be useless.
Same goes for the purchase of a rental property, solicitors costs etc...can be added to the cost of the property for asset purposes as the solicitors costs are associated.
its not all black and white and I would definitely speak to a someone at the Inland Revenue on this to clarify and at least get this in writing from them if need be to cover your own back if they challenge it.
