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[19 Mar 2018 | Comments Off on Reclaiming foreign VAT | ]
Reclaiming foreign VAT

Your UK VAT registered business can get a refund of EU VAT for most goods and services you buy for your business.

You cannot normally reclaim GST and VAT from countries outside the EU. Nor can you reclaim EU VAT if the expense is not wholly and exclusively for the purposes of your business.
Moreover:

you need a proper VAT receipt from the actual supplier, addressed to your business, showing the rate of VAT charged and the exact amount of VAT charged
a “proforma invoice” is not a proper VAT receipt
what you can reclaim …

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[8 Aug 2013 | No Comment | ]
Pre Trade Expenses

I’ve only just registered my business, can I claim pre trade expenses which I paid personally?
The basic principal is that “if you paid for something in the knowledge that you were starting a business, and the prime motive for buying this something was to enhance that business, then it is a business expense” and (subject to a three year time limit) you can claim for it. That applies to both goods and services, and in order to claim the full cost you must satisfy both parts of this test, that …

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[8 Jan 2013 | No Comment | ]
I’ve only just registered for VAT, can I claim back old VAT?

I’ve only just registered for VAT, can I claim back old VAT?
The short answer is “it depends”.
Have you read the general rules in the pre trade expenses article already? Do that first, then continue with this article.
Yes, you can claim for the VAT on goods (and in limited circumstances on services too) provided they:

were purchased within the three years preceding the date of your VAT registration
are still in the possession of the business on the date of your VAT registration
are actually used in the course of the business; and
satisfy the …

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[18 Mar 2011 | One Comment | ]
How to do your tax return yourself

The standard Self Assessment (SA) tax return
You don’t need a tax expert or an accountant to do a tax return for you, and there are a number of ways to handle this yourself.

The HMRC web site
Software designed for consumers
The original paper forms

Bear in mind though that if you get a Self Assessment (SA) tax return, you have an obligation in law to complete it and to submit it on time. And, if they don’t send you a return or if you don’t have a Unique Taxpayer Reference (UTR) then they …