questionText: To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of delays in HMRC VAT registration processing on construction businesses; and if she will consider changes to the VAT registration rules to allow businesses to recover input VAT on materials purchased for taxable supplies where HMRC processing delays result in those materials being used before a VAT registration application has been processed.
answerText: Businesses can only recover input VAT once they are VAT registered. However, once registered, they may recover VAT on goods purchased up to four years before that date. HMRC processes the vast majority of VAT registration applications promptly, with 95% c...
heading: Construction: VAT