De registering for VAT
De registering for VAT
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Discussion

offroading.net

Original Poster:

3,187 posts

221 months

Sunday 4th January 2009
quotequote all
Anyone done it recently?
Question about section 7 "Please estimate the total gross value inc VAT of the stocks and assets you have on hand for which VAT is due"

What do they mean? Is it stuff you have bought but not yet claimed the VAT back on?

Eric Mc

125,862 posts

296 months

Sunday 4th January 2009
quotequote all
No, it is stuff you have bought and on which you have reclaimed VAT when you originally bought it. He needs to know its value now so that he can recover the VAT you reclaimed at the point of purchase - seeing as he's not going to get any VAT when you eventually sell it.

Simpo Two

93,053 posts

296 months

Sunday 4th January 2009
quotequote all
There is an allowance of about £5K, which emerged when I posted on this subject a few months ago.