19-138 Pre-incorporation supplies received by companies
A company can reclaim input tax on supplies obtained on its behalf before its incorporation. Such claims cover the same matters as for pre-registration supplies (Notice 700, para. 11.4 (2017 edn); Value Added Tax Regulations 1995 (SI 1995/2518), reg. 111(1)(b)).
The time-limit is the same as in the case of services. In addition, the following conditions must be satisfied:
(1)the supplies must have been obtained for the benefit of the company or in connection with incorporating it;
(2)the person who received the supply must have become a member, officer or employee of the company, and must not have been a taxable person at the time of the supply;