I have inputted purchases with their VAT component before I registered for VAT.
I recently made my first VAT submission using VAT online. This only accounted for VAT made in the VAT period and did not include VAT payments on purchases before I became VAT registered.
On my balance sheet there is an asset for the purchase tax control account. However if I can not reclaim this from HMRC then I need to remove this.
How can I do so?
It’s worth noting that there are some things you can claim for pre-VAT registration, but these need to be manually entered into the return for them to be accounted for.
But if you’re not able to reclaim these, were there many invoices you weren’t able to claim? The best way would be to adjust the invoices individually, as this would then allocate the purchase invoice to the correct nominals. If they’re all the same nominal code, you could use a bulk recode tool.
If you could let me know a bit more about your situation, I’ll certainly try and help point you in the right direction.
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