Oh dear, it turns out we don't get VAT back...

Keith A. Milner maillist at superlative.org
Fri Jun 17 07:08:55 EDT 2011


On Friday 17 Jun 2011 12:00:03 Maf King wrote:
> 
> TBH, the only reason I can see behind Keith's suggestion to record the VAT
> *regardless*, is if you want to do a what-if with regard to registering,
> and only then if many of your inputs (ie things you buy) are zero rated or
> exempt (medical stuff might be? don't know!)  If the majority of your
> inputs are std. rated, then it is easy enough to say that about 20% (or
> whatever) of your total expense is "potentially reclaimable" VAT.
> If you start up with the intention or expectation that you will register,
> then starting as you mean to go on and recording the VAT, even if it can't
> be reclaimed to start with does also make good sense, though.

I agree. If it doesn't look like you will be VAT registering, there's no need 
to separate this out at all.

Cheers, 

-- 
Keith A. Milner


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