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Post Info TOPIC: HELP NEEDED!!!!! Duel Fuel Van
Nikki


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HELP NEEDED!!!!! Duel Fuel Van
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Hello... I could do with some advice.. I am trying to help someone with their books.

He is a ltd company builder.

He has a van that he hasn't put into the business.  The van is Duel Fuel Petrol/LPG

He only uses it for business.

What % of VAT can he claim on the fuel?   and is it different for the Petrol and the LPG?

I really appreicate any help anyone can give..

Thank you in advance...smile



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woody88


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Hi Nikki,

Firstly, is there a reason why he has not put the Van into the Business, my understanding is that if it is used 100% for business in the Ltd Company, that the purchise price of the van will receive 100% Capital Allowance.

Therefore, all receipts for fuel for the Van are allowable against tax. In terms of VAT, the amount of VAT on the purchase of fuel should be detailed on the reciepts. I have read before that LPG Fuel is 5% VAT, but this will be listed on the purchase receipt too.

Hope this helps.

Ben



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