The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Drawings + VAT
Post Info TOPIC: Drawings + VAT
Mickey


Veteran Member

Status: Offline
Posts: 43
Date:
Drawings + VAT
Permalink Closed

I have a client who has paid for food using the business bank account. I have been informed that this is to be classified as drawings and my question is that is this to be posted as T9 in sage or can the VAT be reclaimed on this?

I am intending to post it as bank payment using the drawing nominal code and wondering what tax code to use?

__________________



Susie Sue


Senior Member

Status: Offline
Posts: 345
Date:
Permalink Closed

All drawings should be T9 - can only claim VAT on business expenses.

__________________
Sue
Assist Office Services - Bradford Bookkeeper
Mickey


Veteran Member

Status: Offline
Posts: 43
Date:
Permalink Closed

very quick response.

Thank you Sue!

__________________



Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Drawings + VAT
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About