Andrew Needham looks at the procedures for making late claims for input tax.
When a business incurs input tax on its purchases, it’s entitled to reclaim it from HMRC, provided the business has the correct evidence to make the claim.
But sometimes, through an oversight, it isn’t claimed on time; so, what are the rules for claiming back input tax late?
Normally, the input tax on a purchase should be claimed in the VAT period in which it is incurred. So, if a business’s VAT return period ends in July
