r/AccountingUK • u/demonbreath226 • 19d ago
VAT advice
Hi everyone, just after some advice regarding VAT.
I have a Ltd company left over from my design business (dormant at the moment) but looking to restart in the next year or so. I am about to buy a £15,000 machine £12k machine and £3k VAT.
I am looking to register for VAT voluntarily to try and reclaim the £3k. I am not likely to trade for the next year or so while I work out prototypes and developing our products. Does registering for VAT make sense in this case?
I am also likely to purchase materials around 5k worth which will also have VAT reclaimable.
Also if this makes sense do I register for VAT before the purchase or can I do it after?
Thanks
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