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Post Info TOPIC: Item purchased for business
Moonraker


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Date:
Item purchased for business
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Hi All,

 

I have a query that I hope you can help me with -

 

My client is using a fitter to work on one of their jobs (not an employee). The fitter bought a nail gun from Screwfix on my clients behalf which my client paid him back for out their personal funds not the business account. As this purchase was for business purposes it needs to go through the books (note -Ltd company). However as the nailgun was inittially paid for by the fitter the invoice provided is in his name  - is this paperwork OK to use as supporting paperwork for the purchase by the business and to claim back VAT?

 

Many thanks

 

 

Richard    



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MarkS


Expert

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Posts: 1501
Date:
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Technically no as the invoice should be in the name of the ltd company to go through the books and reclaim the VAT.

Regards

MarkS



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
Mad Liz


Senior Member

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Posts: 187
Date:
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Untechnically, however, it would be unlikely to be a problem, especially if you show in on a company expense claim form.


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Liz Needham FFA FIAB FFTA

Needham Accountancy Ltd
Wella


Expert

Status: Offline
Posts: 2256
Date:
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Is the fitter VAT registered?

If so it may be possible for him to invoice your client on a disbursment basis

http://www.hmrc.gov.uk/vat/managing/charging/disbursements.htm

HTH

Bill



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