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The majority of optical businesses operate with the 'de minimis' system which allows opticians to claim back VAT on the purchase of exempt equipment and the recoverable tax on residual non-attributable purchases of up to, but not exceeding £625 a month, £1,875 a quarter or £7,500 a year.
By spreading the VAT you can reduce the risk of exceeding (and thereby compromising) your VAT de minimis limit.
Please contact us to talk about your individual VAT circumstances.
You have sole responsbility for the management of your tax and legal affairs. We recommend that you obtain your own independent tax and legal advice tailored to your individual circumstances. Snowbird Finance does not provide tax or legal advice.