if not registering for vat.......

[nktile]

Just a quick one. And please forgive my ignoreance as i suspect the answer is pretty elementary. Small business bing set up for tax, do not need to register it for vat. therefore my question is presumably in all my business related items i can not claim vat back, as am not paying any in the first place?

So it would be just a question of holding onto all receipts etc , to claim back as exspenses?

Any clarification would be much appreicated.
thanks

 

[mathepac]

... i can not claim vat back, as am not paying any in the first place?...

I'm finding it difficult to understand your question, but one thing strikes me as odd immediately.

Are you stating that no-one charges you VAT on items you purchase?

Is this not tied in with your other query here http://www.askaboutmoney.com/showthread.php?t=77346 ?

 

[nktile]

No . I mean of course i pay VAT on purchases etc. What i ask is i,f i do not register for VAT myself , i presume it is not possible to claim back VAT on my own purchases?

 

[mathepac]

No . I mean of course i pay VAT on purchases etc. What i ask is i,f i do not register for VAT myself , i presume it is not possible to claim back VAT on my own purchases?

A limited company or sole trader who is not registered for VAT cannot claim a refund of VAT on purchases and cannot charge VAT on sales or service invoices.

 

[nktile]

As i thought. thanks for the clarification.