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Assisted purchase scheme and Academy status

Discussion in 'Music' started by swotboy, May 24, 2011.

  1. swotboy

    swotboy New commenter

    Hi all,
    With our recent changeover to academy status we've been told by one of our main instrument suppliers that we can't claim back the VAT on instruments that students have purchased through the assisted purchase scheme. Apparently this is because we're not VAT registered as a school and obviously aren't funded through the LEA.
    Anybody else having similar problems claiming back VAT on instruments?

     
  2. swotboy

    swotboy New commenter

    Hi all,
    With our recent changeover to academy status we've been told by one of our main instrument suppliers that we can't claim back the VAT on instruments that students have purchased through the assisted purchase scheme. Apparently this is because we're not VAT registered as a school and obviously aren't funded through the LEA.
    Anybody else having similar problems claiming back VAT on instruments?

     
  3. florian gassmann

    florian gassmann Star commenter

    Under the 2011 Finance Act, Academies are exempt from VAT as from 1st April this year. At the end of the following you will see that it is possible to reclaim VAT even if not registered, although registering is by far the simpler process:
    www.hmrc.gov.uk/budget-updates/autumn-tax/tiin1615.pdf
    However, I doubt that purchases made before 1st April are likely to be exempt :(
     

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