Hi, Can anyone tell me whether someone on the Flate rate scheme for VAT can reclaim the VAT paid on a vehicle. I realise that normally they can't reclaim any VAT on purchases. Many thanks. Beverley.
Hi BeverleyHave you seen the HMRC guidance on claiming back VAT on capital asset purchases under the flat rate scheme? It's here:http://www.hmrc.gov.uk/vat/start/schemes/flat-rate.htm#8A van is given as an exmple of a potentially allowable claim for the actual VAT paid subject to the rules all being met.
Ruthwww.shoreaccounting.co.uk
Thanks very much, Ruth. That answer is very helpful to me too! Danya
Hi Ruth and Ami,Thank you both for your replies they are very helpful.regardsBeverley.
