Ra418

Hi, I have recently started a new export business where I export new cars and parts from the UK. My business plan was to reclaim the 20% VAT I paid to purchase the goods once they were exported. That way I would have a good margin, whilst also having competitive prices. I just realised that VAT registration takes a while, I did apply a few days ago though. What I wanted to ask was, can I still "zero-rate", without explicitly stating on my invoice, and then reissue the invoice after my VAT registration and then reclaim the 20%? Online, it says I can reclaim goods I still have on hand for 4 years, but unsure about this case

Hi, I recently started a car export business and have found clients over seas. The business plan is as such: We buy new or used cars with 20% VAT, and then sell them to buyers at that same price. The plan is to zero rate the VAT on sale, and reclaim the 20%, which would essentially be our gross profit. My effective date of registration for VAT is 31st of August. I wanted to ask; I understand I cannot charge or reclaim VAT until I am registered with a VAT number. But, can I reclaim the VAT after my application is processed? For example by reissuing the sales invoices to show a Zero Rate? Since the whole business essentially runs off of VAT reclaims, I'm afraid while I wait for the long application processing times, I will have to ask my clients to pay accounting for the VAT in the UK, which will increase my price of the cars I sell. It will also lower the amount of profit in this time.