Since April 2013 unincorporated businesses can claim simplified deductions for motor expenses. Companies could already claim these indirectly. As a result, some businesses have been losing out on
VAT. What should you be claiming?
Published 05.03.2014
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
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
An employee has written off his company car. Its insurance value is £8,000. The claim form asks if you’re VAT registered; you are, so you tick the “yes” box. You’ve just lost £1,300! Why and what
steps can you take to avoid this trap?
Published 02.05.2014
Your bookkeeper is preparing your latest VAT return which includes expenses paid by your employees, some of which include VAT. How much of this can you reclaim and what supporting evidence must you
have?
Published 04.10.2022
You’ve heard about the income tax exemption for relocation expenses paid to directors and employees. But where do you stand with the Taxman when it comes to the VAT paid on these?
Published 20.03.2012
The experience of one of our subscribers during a recent VAT inspection is a reminder of how tricky the VAT rules on cars are. It turned out that his company was under-claiming VAT. Could you be
missing out?
Published 17.02.2010
Generally, when a business registers it can reclaim VAT paid for goods on hand. There’s also scope for reclaiming VAT on services received before registration but tough conditions apply. What exactly
are you allowed to claim for?
Published 06.09.2012
HMRC’s policy on reclaiming VAT on the cost of company paid-for mobiles and IT equipment used by directors and employees at home is potentially generous. What are the rules and how can you take best
advantage of them?
Published 20.03.2014
During routine records checks HMRC first looks for mistakes which businesses commonly make. One target area is the VAT treatment of travel expenses. What should you be checking to ensure your VAT
returns are correct?
Published 19.05.2022