I hope this is helpful and answers your question.
If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Hi sorry that's not the question I wanted replied. I don't know much about VAT. I wanted to know whether I could and should claim a repayment of the VAT on the goods and services I have purchased, e.g. lighting equipment; computer equipment; props etc., without having started 'trading' yet.
Omar, thank you for your reply.Once you register for VAT, then you will be able to make a backdated claim for VAT paid out on your purchases even though you have not made a taxable supply (sale) as yet.
Thereafter, you would file a quarterly VAT return and either make a payment or have VAT repayable to you based on your activity in the quarter.I hope this is helpful.
Thanks, ***** ***** will I receive an immediate cash payment for this?
Omar, thank you for your reply.You may not receive an immediate cash repayment. Normally HMRC try to make repayments within 4 weeks of submission of VAT return.
I hope this is helpful.
If you are happy and there are no more issues I will appreciate if you would kindly rate/accept the service I provided to ensure I get credited for it.