we incurred construction costs of about e50k on a restaurant we opened with total vat bill of about e8k. can we claim this vat back against our normal vat bill for the restaurant? thanks for any help
Provided you were registered for VAT at the time the invoices were dated and as long as the invoices relate solely to work on the restaurant ( i.e. no personal element ) then there should be no reason why this would not be allowable.
we only registered for vat the week we opened and most of the work was done by then and the invoiced are dated before then. the works all related to the restaurant tho. are the revenue strict on this. .