ITUK
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RE: What does "You may provisionally claim repayment of VAT" mean
Thank you for your reply, Is it usual for a new business to reclaim so much on a first return? I do worry that due to low sales of services I only have tax to reclaim on expensive equipment for the first return. With regards to all the equipment already purchased is the first return the only time to reclaim VAT for these? Regards -
What does "You may provisionally claim repayment of VAT" mean
As the title says, what does "You may provisionally claim repayment of VAT" mean? I am a new company and as of the 20th of May I am registered for VAT although not made any sales yet, does it mean I can claim for any purchases I have made for the business?