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Old 20th May 2013, 16:45
  #33 (permalink)  
Pittsextra
 
Join Date: Jan 2012
Location: UK
Posts: 1,124
Received 9 Likes on 8 Posts
This VAT reclaim isn't that complex and it is possible.

The first thing you must do is establish a trading position and company, register for VAT and then it is a simple input v output VAT (i.e how much you are paying in VAT for invoices you sent verses how much you paid in VAT for invoices you paid).

Obviously its the "trading position" element that is tricky since you can't charge for being a pilot without a commercial licence. However that doesn't mean you can't have an aviation business, who then trains its staff to become a pilot..

And of course a trading position doesn't need to be profitable as it can be supported via a directors loan account until the business is profitable.
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