Reply To: Registering for VAT & Claiming VAT on Pre-Registration Purchases Including Goods Imported from The EU

Forum Categories › VAT REGISTRATION › Registering for VAT & Claiming VAT on Pre-Registration Purchases Including Goods Imported from The EU › Reply To: Registering for VAT & Claiming VAT on Pre-Registration Purchases Including Goods Imported from The EU

2 September 2020 at 12:16 #56031
grumpydave
Member

Well I spoke to someone at the HMRC VAT helpline. It transpires that VAT cannot be claimed back from EU imports purchased prior to VAT registration. I am currently holding thousands of pounds of imported stock and I trade in a competitive marketplace where my margins are pretty low. There is going to be no way I can increase prices post-registration to a profitable level so this really is a disaster for my business.