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Post Info TOPIC: VAT on a Lock company


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VAT on a Lock company
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I have a receipt for a Yale safe. Would I put this in the accounts as security, office or something else? And whichever category, would I reclaim VAT?

Thanks in advance.

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gbm


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Hi Noola,

Depends upon how much it costs. If it's > £100, I would capitalise it and post against office equipment. Less than £100, would treat it as an expense and post against sundries.

For the VAT, why wouldn't you reclaim VAT? Presume you have a VAT invoice (and you/your client is VAT registered).

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Regards,
Nick

Website: www.gbmaccounts.co.uk
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