Astrojon
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Reclaiming vat on first submission for a new startup
Hello, I am struggling to get a definative answer over issues I am having surrounding going vat registered. I have not enough income currently to afford the services of an accountant to get help at this stage. I am a new startup and I have no income from the business just startup expenses, however I have been asked to be vat registered to get access to work and be seen as more credible and to get access to trade prices. My first submission to HMRC will likely be a claim back of vat I have paid on startup and my van and will contain no collected vat. If i do this, will I be threatened or face any sort of trouble? Kind regards.