In his recent budget the Chancellor slipped in a sneaky change regarding the right of businesses to reclaim VAT using the Lennartz rule for purchases. This will affect thousands of businesses in the
UK. What’s it all about?
Published 14.04.2010
Your firm is relocating premises and spending a lot on refurbishments including fancy furnishings and artwork for the offices. A colleague has said you might not be entitled to reclaim VAT on some of
these costs. Are they right?
Published 05.07.2023
Special rules restrict the amount of VAT your business can reclaim on car leasing payments. But these so-called blocking rules don’t apply to all charges made by rental companies. What and how much
are you entitled to claim?
Published 01.11.2013
The flat rate scheme has advantages for small businesses, not least the potential to reduce their quarterly VAT bills. However, one of the disadvantages is a restriction on reclaiming VAT paid on
some capital purchases. When does this rule apply?
Published 15.05.2023
If a customer doesn’t pay your bill you can get back any VAT on this that you’ve paid over to HMRC. But where do you stand if you’re withholding payment to a supplier because you’re in dispute with
them?
Published 16.07.2013
The VAT flat rate scheme (FRS) rules block you from reclaiming VAT on purchases except for high value capital assets, e.g. a van. But what’s the VAT position if you bought the asset before you
started using the FRS?
Published 07.01.2020
You’re preparing your VAT return which includes VAT paid on an especially expensive purchase. Naturally, you want to reclaim it as soon as possible but the supplier has failed to send an invoice.
Must you defer your claim until you receive it?
Published 02.02.2023
A ground-breaking decision by the EU Advocate General might lead to the Taxman having to rethink his rules on entertaining expenses. Currently, you’re not allowed to reclaim VAT on these; how might
this change?
Published 12.04.2010
From time to time you may be faced with having to pay a bill for your company out of your own pocket. The invoice or receipt you’re given is likely to be in your name. Is this going to be a problem
for the Taxman?
Published 01.10.2009
Your company has been doing well over the last few years from its eBay sales, but you’ve just discovered you’ve been charged VAT on the sales commission you pay. Can you simply reclaim this or is
there more involved?
Published 12.05.2014