Hi All,

I have a situation where one of the entities in our group of companies has a VAT Refund due if the return is submitted as per tax report and reconciliation. I am aware that you have 5 years to claim Input VAT, my question in this though. We would prefer to not claim all the input at this stage, and offset it partially over the next couple of months to assist in Cash flow control etc. from an Ethical and accounting standards point of view, is there a problem with moving some of the Input Vat from the VAT control account to another control account "Input Vat reserved" and moving whatever is claimed to the VAT control account as and when it is claimed? I don't want to do something, however good intended, and then have it reflect as unethical or irregular during audit.

Your kind assistance will be greatly appreciated