Vat registration

[tRoN]

So I’m starting a new business that will require vat registration.

Now I know that it takes around 3 months trading for SARS to consider Vat registration these days unlike in the past where it was quick and easy.

The question is.
Because I will be getting supplier vat invoices dated before my vat number is allocated can these vat amounts be claimed back after the registration is through?
Is there a time frame?

 

[quovadis]

So I’m starting a new business that will require vat registration.

Now I know that it takes around 3 months trading for SARS to consider Vat registration these days unlike in the past where it was quick and easy.

The question is.
Because I will be getting supplier vat invoices dated before my vat number is allocated can these vat amounts be claimed back after the registration is through?
Is there a time frame?

As long as you are trading you can voluntarily register for VAT - just go early to an office with some existing invoices as proof and apply. If you don't have an appointment (which can take months itself) you just take a number and wait (it may take hours of waiting) but generally you can leave same day with the job done.

Also to answer your question see here: http://www.thesait.org.za/news/257034/Claiming-VAT-prior-to-registration-.htm

 

[bigboy529]

If I recall certain things can be backdated for a period, best to ask your accountant.

 

[TheMightyQuin]

So I’m starting a new business that will require vat registration.

Now I know that it takes around 3 months trading for SARS to consider Vat registration these days unlike in the past where it was quick and easy.

The question is.
Because I will be getting supplier vat invoices dated before my vat number is allocated can these vat amounts be claimed back after the registration is through?
Is there a time frame?

Get a good accountant to do all this for you. If you are starting a business, you should have an accountant already to be honest.

 

[tRoN]

If I recall certain things can be backdated for a period, best to ask your accountant.

Get a good accountant to do all this for you. If you are starting a business, you should have an accountant already to be honest.

Getting conflicting info from my accountant hence the question here.

 

[tRoN]

As long as you are trading you can voluntarily register for VAT - just go early to an office with some existing invoices as proof and apply. If you don't have an appointment (which can take months itself) you just take a number and wait (it may take hours of waiting) but generally you can leave same day with the job done.

Also to answer your question see here: http://www.thesait.org.za/news/257034/Claiming-VAT-prior-to-registration-.htm

Thanks.

But what if the setup capital costs are payable before the vat registration number.
Can this be claimed back later?

What does the supplier put on the invoice “pending vat registration” ?

 

[AchmatK]

Getting conflicting info from my accountant hence the question here.

You might need a new accountant then.

There is something called "Change in use". Provided that the items are still in possession of the company on the date of vat registration, you can claim the input vat through the change in use.