Yes, if you are required to pay VAT on your trade income then you may claim a credit for
For VAT suffered on the stock-in-trade (i.e. goods for re-sale but not capital goods, tools) held at the beginning of the first taxable period for which he or she is registered. Where the rates actually charged at the time of purchase of the goods differ from the rates applying at the time the relief is being sought, the local Revenue District should be consulted in relation to the exact amount of VAT which can be reclaimed. No relief is available in respect of VAT on goods purchased prior to registration by a person supplying services.
Any queries give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie