Will we get 17.5% back?

[sam.r]

Not sure if its been mentioned but does anyone know if we are going to be able to claim 17.5% on purchases already made or will they be reduced to 15%?


ETA - just seen the thread in P&P thats running.

Edited by sam.r on Monday 24th November 08:59

[sgrimshaw]

Yes you will.

It is your Input VAT which you can substatiate from your suppliers invoices.

The VAT man will get 17.5% since your suppliers will be declaring the amount they charged to you.

[Eric Mc]

sam.r said:

Not sure if its been mentioned but does anyone know if we are going to be able to claim 17.5% on purchases already made or will they be reduced to 15%?


ETA - just seen the thread in P&P thats running.

Edited by sam.r on Monday 24th November 08:59

You claim back the Input VAT based on what rate was applicable at the time the supplier's invoice was issued i.e. the Tax Point date of the invoice.

Simple.

[sam.r]

Yes of course!

Thanks.