The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> What can I claim the VAT back on?
Post Info TOPIC: What can I claim the VAT back on?
benwintle


Newbie

Status: Offline
Posts: 3
Date:
What can I claim the VAT back on?
Permalink Closed

Hi Everyone.

I am opening up a garage and just running through the figures.

Can I claim back the VAT on the following:

Unit rent

Public Liability Insurance

Contents Insurance

Building Insurance

Bills (electric, water, internet, etc)

Ramps Finance

Also, how often can you claim this?

Regards

Ben Wintle



__________________
Wella


Expert

Status: Offline
Posts: 2256
Date:
Permalink Closed

Hi Ben

The answer firstly depends on whether you are VAT registered. Assuming you are it still is not that simple unfortunately. (If you are not then you cant claim any)

Rent - only if it has been charged

Insurance do not have VAT

Bills - some are vatable some are not (water, rates are not to name a few)

Depends what sort of finance you have for the ramps.

You only claim VAT the once on each new invoice you receive

HTH a bit

Bill

 



__________________

 

 
benwintle


Newbie

Status: Offline
Posts: 3
Date:
Permalink Closed

So I can't claim VAT back on business rates?



__________________
Helz


Senior Member

Status: Offline
Posts: 154
Date:
Permalink Closed

Hi Ben

You can only reclaim VAT where you have an invoice showing that it has been charged.

Business rates do not have VAT applied to them, so the invoice will not have any VAT on it, hence you cannot claim.

Helen

__________________
MarkS


Expert

Status: Offline
Posts: 1501
Date:
Permalink Closed

Go and speak to an accountant face to face and get some advice before you make a mess of things.

Regards

Mark



__________________

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.
AICB


Senior Member

Status: Offline
Posts: 244
Date:
Permalink Closed

MarkS wrote:

Go and speak to an accountant face to face and get some advice before you make a mess of things.

Regards

Mark

 

That really is the best advice.

Andy



__________________
Andrew
Truemanbrown


Senior Member

Status: Offline
Posts: 205
Date:
Permalink Closed

I would definitely consult your accountant. I can just see you making a mistake charging VAT on a MOT!

__________________

Your local accountant

 

 
bk


Senior Member

Status: Offline
Posts: 171
Date:
Permalink Closed

As stated before, VAT can only be reclaimed on invoices, purchase receipts that clearly have a VAT amount charged on them. I would advise that you speak to an accountant about this to sort it out in your mind, before mistakes are made.

Debbie

__________________

Debbie Brown-Kane

Oakmanor Accountancy

www.oakmanoraccountancy.com

e: debbie@oakmanoraccountancy.com
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> What can I claim the VAT back on?
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