I am a Sole Trader and not VAT registered.
I purchase materials on behalf of customers from VAT registered companies.
When invoicing customers, I charge the customer the cost of the materials including the VAT paid.
I, therefore, assume that VAT is not reclaimable from HMRC.
Thus, when recording the purchases do I need to be recording the VAT paid?
Do I record VAT on stock assets? Do I record VAT on items such as stationery and fuel?
Hoping someone can unboggle my mind!
