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Thread: Reclaiming VAT
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Old 5th October 2008 | 20:58
  #15 (permalink)  
XXPLOD
 
Joined: Feb 2008
Posts: 159
Likes: 0
From: Basingstoke
As a former Officer of HM Customs and Excise (as was) myself albeit categorically NOT a VAT man, I have a little knowledge here. I would advise against some of the dodges being advocated here. It is certainly true that obtaining VAT registration is not difficult, although the VAT office don't dole them out as freely as they have done, largely due to VAT carousel fraud.

However, the wise old VAT man can spot the sort of 'companies' being advocated a mile off. It doesn't take a consultant from KPMG to work out that a company isn't trading regularly, isn't being run properly as a company etc... Submitting your first VAT re-claim for £50K's worth of pilot training WILL NOT WORK.

How many people do you think there are out there who hit on the bright idea of claiming VAT back from significant purchases on the basis of a new business. Virtually all small businesses fiddle the VAT, it's just a matter of degrees. It's the greedy that get caught. But...you've got get established and play by the rules before you can safely operate under the VAT office's radar whilst having those days working for 'yourself.'
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