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Post Info TOPIC: VAT Registration
kjmcculloch83


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VAT Registration
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Some of you will know I have a new client who should have registered for VAT in April and hasn't.  I'm doing the registration now.  I understand that he can claim for goods he has bought up to 3 years before registration provided he still owns them, and services for 6 months.

As he is a retail premises, how do I account for stock.  It is really a case of a full stock take and then going through invoices to check the cost and VAT incurred, or is there a quicker way I'm missing?

Kris



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Truemanbrown


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Unless, he is a computerised stock system in place then yes he should conduct a stock take.

You may find this blog useful.

 



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kjmcculloch83


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Thanks, I asked him at the end of last week to do a full stock take.

The joy.

Kris

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pinkdon


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For pre-registration expenses he can claim up to 4 years for goods and 6 months for services, just did a refresher course so it's still fresh in my mind!

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