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Post Info TOPIC: Claiming VAT back
Elaine R


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Claiming VAT back
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Evening All,

I have just started doing the books for a new client.  He has sent me all sales and purchase invoices.

My client has told me that he doesn't claim back the VAT on fuel receipts.

Is there any particular reason why this would be?

 

Elaine



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E Roscoe
Don Tax


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Hi Elaine,

Just a guess as I've had one similar today but it could be that the value of the VAT claimed from motor fuel is less than the standard 'Fuel Scale Charge' that he would normally have to add back as deemed private use proportion of that fuel.

Might be a completely different reason why he has said this but you could do with checking that he's right not to claim back the VAT.

Tim

www.hmrc.gov.uk/vat/forms-rates/rates/rates-thresholds.htm

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Elaine R


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Hi Tim,

He has spent £1100 on fuel in the last accounting period. I'll have a look at the link you sent to see if it explains anything.


Have to get the books finished by weekend as he has potentially more work for me to do.

Fingers crossed.

I'm going to try and get him on Sage for the next accounting period as he wants me to track his debtors for him.
Will have to get opening balances from Accountant.

Another late night for me.

Elaine



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E Roscoe
Rhianrach


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If he spent £1100 on fuel then £183.33 would be the VAT element which is 42.83 per quarter. It would only be beneficial if his vehicle is in the 125 CO2 band or less and then not by much.

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Steve
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