Originally posted by Spikeh
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Expenses question
Collapse
X
-
-
Originally posted by malvolio View PostDon't care what HMRC appear to think, you have to apply VAT to any invoiced items. It's up to you (and to some extent your client) how much you actually charge for the item and if you want to faff around taking off the VAT percentage then that's your decision. But it is not necessary, nor is there any question of VAT on VAT. The net recovery of VAT incurred is the same either way.
These are business expenses, not disbursements.Comment
-
Originally posted by Spikeh View PostMost of us contractors won't be on a flat rate scheme any more due to changes that were introduced last year, so the only people you're helping by charging your client input VAT + output VAT is HMRC.Comment
-
Originally posted by TonyF View PostNo they don't - they rightly explain that unless the payment is a disbursement then it is a matter of contract law and nothing to do with them.
I incur £12 car parking fee, including VAT. I could recharge that to the client at £10 + VAT, £12 + VAT, £100 + VAT, £1 + VAT or not bother billing the expense to the client. It i nothing to do with HMRC apart from if you are charging VAT (on whatever amount) the right sum needs to be paid to them.
Apologies - I was given the wrong advice by both HMRC AND my accountant - or I've just completely misunderstood what they've said!Last edited by Spikeh; 27 March 2018, 12:04.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment