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Post Info TOPIC: VAT cash scheme
Pickle


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VAT cash scheme
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Could anyone help me with the following please.  If some one is registered for the vat cash scheme from 1st January and has outstanding December expenses that he pays in January can he claim the vat back on these? Or is it a case of because he purchased the item when he wasn't vat registered then he can't claim the vat back despite paying when he is registered. The expenses are as follows

Parts to repair tractor

Hedgecutter

Work van repair costs

Tractor engine repair costs

Tractor hire

Many thanks in advance



-- Edited by Pickle on Thursday 25th of April 2019 04:11:22 PM



-- Edited by Pickle on Thursday 25th of April 2019 04:12:41 PM

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Artois


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Hi

My understanding is that it is fine to claim back

VAT Notice 731 (section 3.2)

'If you pay for the goods or services after you have registered for VAT, claim the VAT as though it was input tax, in the period in which you pay for them'



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice
haymac


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Hi,

If the December expenses as you list are wholly in respect of his business, then yes he can claim those expenses on his next VAT return.

www.gov.uk/vat-cash-accounting-scheme

Cash Accounting Scheme.

Pay VAT on sales when your customer PAYs you.

Reclaim VAT on your purchases when you have PAID your supplier.

Hope this helps.

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Pickle


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Thats great, thank you both for your replies, yes all those expenses are fully for business use only.

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