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Post Info TOPIC: VAT between two companies
bhkj


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VAT between two companies
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Hi, I'm bookkeeping for film production companies and still learning many aspects of this. For film you have to start a new company for each production.

I have a situation where there are two companies both VAT registered.

One company (A) needs the second company (B) to pay short term car hire purely for business/a film shoot. If company B pays for this and then later reclaims the VAT, what happens when they invoice company A to pay back the amount. Do they add VAT onto the total cost of the original car hire (ie: gross)? I tried speaking to HMRC but they couldn't help. Also not sure how this would be defined - is it a recharge? Any advice from more experienced bookkeepers would be really appreciated. Thanks



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