Change of entity and pre-registration VAT
Options
EB Services
Registered Posts: 4 New contributor 🐸
Hi all, just a quick question please. A sole trader/partnership buys a van. They incorporate. They VAT register, within 4 years of buying the van and they still own and use it. Can the Ltd claim back the VAT on the van under pre VAT registration rules? Simple question, happens all the time, I can't find a straight answer online. Thank you x
0
Comments
-
Simple answer yes as long as still got receipts for the purchase.
here a link i found that was useful
https://www.theaccountancy.co.uk/vat/can-i-reclaim-vat-on-purchases-i-made-before-registering-58473.html#:~:text=You can only reclaim VAT,goods that you still have.RegardsCiaran Andrew Leyland0 -
Not a simple question at all!
How was the van transferred into the Company on incorporation? Is it now in the Company name?
Has the full cost of the van inclusive of VAT already been claimed in the sole trader/partnership accounts? If so adjustments will need to be made.0
