RCB/16/16 Treatment of VAT incurred on assets that are used by the business prior to VAT registrationRevenue & Customs Brief, Issue 16. 4 November 2016Purpose of this briefThis brief sets out HM Revenue and Customs (HMRC) policy on deduction of VAT relating to assets used by the business prior to its VAT registration. It clarifies when, and to what extent, VAT is deductible and what to do if the correct treatment has not been applied.ReadershipThis revenue and customs brief is aimed at all businesses and professional tax advisors.BackgroundUK law allows a business registering for VAT to recover tax they have incurred on goods and services before their effective date of registration (EDR). This allows the recovery of VAT against goods and services
Revenue & Customs Brief, Issue 16. 4 November 2016
This brief sets out HM Revenue and Customs (HMRC) policy on deduction of VAT relating to assets used by the business prior to its VAT registration. It clarifies when, and to what extent, VAT is deductible and what to do if the correct treatment has not been applied.
This revenue and customs brief is aimed at all businesses and professional tax advisors.
UK law allows a business registering for VAT to recover tax they have incurred on goods and services before their effective date of registration (EDR). This allows the recovery of VAT against goods and services
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