- Pre-registration activities are important for businesses before VAT registration
- Sales activities must be carefully managed during the period between application and receiving a VAT number
- Input tax recovery for purchases made before registration has time limits and specific rules
- Businesses can negotiate an earlier Effective Date of Registration to recover additional VAT
- Input tax cannot be reclaimed for certain goods or services consumed or sold before registration
- Special rules apply for partially exempt businesses and purchases covered by the Capital Goods Scheme
Source: deeksvat.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
