Claiming Input VAT on first VAT Return?
I started my restaurant business on 1st April 2008 but did not register for VAT at the time as my sales were below the VAT threshold.
However, on 1st December 2008 I registered ffor VAT as my sales had reached the limit. I have now received my first VAT Return for the quarter 1/12/08 to 28/2/09. Can I claim the VAT on purchases I have incurred in setting up the business prior to 01/12/08? And if so, is there a limit to how far back I can go? The costs are things like initial marketing, refurbishment, specialist equipment, internet connection, setting up phone lines, solicitors fees, signage etc.
It's all here:
http://www.hmrc.gov.uk/vat/reclaim-can-cant.htm
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