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Recovery in mind
Key points
- Having documentation in place at an early stage of a fund-raising exercise showing that the funds are intended to be used to make supplies that provide an entitlement to recover VAT can help to reduce the risk of HMRC successfully challenging an input tax claim.
- The main categories of supplies that provide an entitlement to recover VAT as input tax are taxable supplies and supplies which would be taxable if made in the UK.
- A VAT group registration does not in itself result in the representative member being entitled to recover all the VAT incurred by members of the group.
A company may decide to raise funds to expand its existing business or acquire a subsidiary. Common methods of raising funds include loan finance issuing shares and selling assets. A sale of assets can involve the sale of shares in a subsidiary ...
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