I am nowhere near the VAT registration threshold of £85000, however i am looking to buy a van for my business and the VAT alone costs £4934, is it worth me becoming VAT registered because of this?
Is it going to "cost" me in any other way? If I register for VAT, is that me vat registered forever then? Is there any other way to claim the VAT back instead ?
I will probably have to purchase the vehicle through hire purchase or bank loan, nearly £5000 Less to borrow would be really helpful. Is it going to disadvantage me in any other way?
I don't foresee any other large purchases or reason/need to be vat registered. Is there anything else that i can claim vat back on?