A
AJS
Guest
Hi,
Basically I'm after setting up a business to provide sound equipment rental however i have a small issue regarding the VAT on my business expenditure required to do business such as speakers microphones etc.
Now, I initially began setting up my business in march but due to one thing and another i didn't actually get a vat number live until the 1/11/2008. And am only beginning to trade now.
The unfortunate thing is i had purchased equipment earlier that year(march) from a good friend of mine who had a very good system come in which is offered me for a very good price, I purchased this and paid VAT on it.
Now i'd like to reclaim the vat i paid on it however my vat number is only live from november.
I paid for the equipment via a long term loan from my parents which i have to pay back at some stage.
Please advice on what i should do re my vat reclaim.
Thanks
Basically I'm after setting up a business to provide sound equipment rental however i have a small issue regarding the VAT on my business expenditure required to do business such as speakers microphones etc.
Now, I initially began setting up my business in march but due to one thing and another i didn't actually get a vat number live until the 1/11/2008. And am only beginning to trade now.
The unfortunate thing is i had purchased equipment earlier that year(march) from a good friend of mine who had a very good system come in which is offered me for a very good price, I purchased this and paid VAT on it.
Now i'd like to reclaim the vat i paid on it however my vat number is only live from november.
I paid for the equipment via a long term loan from my parents which i have to pay back at some stage.
Please advice on what i should do re my vat reclaim.
Thanks