December 2016 Tax Tips & News

HMRC clarify pre-registration of VAT policy

Render of a man with a magnifying glass looking to the text VAT

HMRC have recently published Brief 16 (2016), entitled Treatment of VAT incurred on assets that are used by the business prior to VAT registration. Broadly, the brief aims to clarify when, and to what extent, VAT is deductible and what to do if the correct treatment has not been applied.

A business registering for VAT may recover tax incurred on goods and services before their effective date of registration (EDR). This allows the recovery of VAT against goods and services as long as they are used by the taxable person to make taxable supplies once registered.

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December 2016 Newsletter

“We rise by lifting others.” Robert Ingersoll.

Xmas party 4

Don’t forget our party is TOMORROW 14th December at St Anthony’s Club, Cadley Causeway from 4 – 9pm. Please DO come along – we would love to see you there! ALL monies raised on the night go to CancerHelp Preston. You could win one of two luxury hampers; a free full two hour coaching session courtesy of Jordan Sands; driving lessons courtesy of 5th Gear Driving School and a phone donated by Tony Raynor! Think of the GOOD you would be doing too – helping to support individuals and families living with the reality and challenges of cancer.

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