As a general rule, the Taxman expects you to scale down your VAT claim for purchases which are partly for non-business purposes. But in some cases he’ll allow you to make a full claim. When can you
take advantage of this concession?
Published 28.06.2011
When you buy equipment for your business and expect to use it for private purposes there are two methods for working out the amount of VAT you can reclaim. Which is the most tax efficient?
Published 16.10.2018
The Taxman has recently issued a statement regarding the VAT which businesses can reclaim on major assets which aren’t used entirely for business purposes. What steps do you need to take now to meet
the Taxman’s new rules?
Published 04.05.2011
We received a question from a subscriber who asked whether he could reclaim VAT on the costs of using a room in his house. The simple answer is “yes”, but as you would expect there’s more to it than
that. What’s to know?
Published 18.09.2009
You’ve got some old stock and office furniture clogging up your storeroom. It may not be in mint condition but it’s too good to throw away. If you take it home to use, or your company gives it to
you, what will the Taxman say?
Published 04.03.2011
The recession means that many business owners are turning to homeworking to avoid renting premises. What’s the situation regarding VAT you pay on building work to create an office in your home?
Published 09.04.2009
Where you buy goods or services that are used only partly for business, the Taxman says you can reclaim a fair and reasonable proportion of the VAT. But in some cases you can reclaim the lot. When
does this apply?
Published 05.03.2012
If you’re registered you can reclaim VAT you pay on purchases. However, there’s more to it than that. What are HMRC’s must-follow rules and how can they be used to boost VAT recovery?
Published 04.02.2014
You buy assets or goods for the business and routinely claim back the input VAT. If, however, you use them privately, the VATman will ask for his money back plus interest and penalties. How can you
avoid this problem?
Published 27.09.2007
You’ve reclaimed VAT on an asset which you expect to use to make VATable supplies, but your intentions change. It will instead be used for exempt or non-business purposes. Does this mean you’ll have
to repay the VAT?
Published 11.01.2016