4 Ways to Cut Your VAT Bill Today

Accommodation:

Every successful business person I know goes out and meets their clients. Often this would necessitate a weekend away, a trip away or just an event where everyone gets around the table to discuss the next twelve months, eighteen months, union issues. Effectively, these are important meetings they are effectively conferences. The vat legislation allows you to claim back vat on a conference. Specifically accommodation. If you stay in a hotel for personal enjoyment that is not reclaimable but if you stay there as part of a conference it is.

Canteen facilities: Buy starbucks coffee and a good coffee maker, reclaim the vat and make your coffee. Going out to the shop and buying it is not a vat reclaimable situation.

If you build a house, and install an office into the house, you can claim back the vat on the office portion of the house. However, please note that if you sell the house down the road you will have to pay 13.5% vat on that portion of the house that related to the office.

Keep vat receipts. Never allow someone to tell you that they will send it on, it rarely happens. Ever when it comes to cars.


Leave a Reply

Your email address will not be published. Required fields are marked *

Powered by WordPress. Design: Supermodne.