If you use the Flat Rate scheme for calculating VAT for your organisation, you can reclaim the VAT for purchases above £2000 inclusive of VAT.You can reclaim the VAT only for the purchase of Fixed Assets . You can either choose Furniture and Equipment or create a new Fixed Asset account...
Vincent St Claire, KeyFleets managing director, says: "Companies that reimburse their drivers after they fill up at petrol stations will not be able to reclaim the VAT on these purchases if our tax rules change. BUSINESS LIFE: BUSINESS MOTORS: Firm spells out VAT warning on fuel The tower ...
VAT stands for Value Added Tax, and a VAT receipt represents that tax on purchases you make from suppliers. You’ll often get your receipt at the time of purchase when you receive goods. There are several key pieces of information on VAT receipts, which we will cover in greater detail bel...
It also discusses the requirement for VAT registration in North American where if a company purchases goods from the Great Britain vendor and sells them to customers in the Great Britain and Germany, VAT has to be charged from them but not on goods delivered to Germany.Eriksson...