UK VAT for a non-VAT registered company


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Hi all,

I have what I thought would be a simple question, but I can't find the answer anywhere online, and when I phone the corporation tax helpline about it, they said they didn't know either!!

I have a company doing residential property letting i.e. making a VAT exempt supply. I obviously therefore cannot register for VAT and have to suffer the full cost of any VAT charged by suppliers on inputs.

My question therefore is: is the VAT that I pay on inputs chargeable against my taxable profits for corporation tax? It would seem grossly unfair if not!!

Thanks in advance!
Chris
 
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Becky

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Welcome to the forum! :)

So you are not VAT registered and you cannot reclaim the VAT on purchases, is that right? And you want to know whether you can set the full cost of your purchases (including VAT) against your income for tax purposes? I don't see any reason why not, assuming the costs are tax deductible.
 

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