VAT Receipts

[VectraMan]

I claim back 2p per mile VAT, or the amount I have receipts for, whichever is lesser (which is always the receipts). So yes you do need to keep them, but presumably no reason to on the FRS.

The VAT bod I spoke to once said I could also claim back VAT on repairs in the proportion of business mileage v personal mileage, but I've never bothered with that.

You can claim back VAT on purchases before you created the company (I did), but it would obviously have had to be business mileage. Perhaps if you travelled to a meeting to discuss a deal which led you to setup the company.

But IANAA.

And yes I am going to try and get on the FRS.

[Bluebird]

Yes they can. The copmpany can claim back the VAT on the fuel element of the 40p. Check hmrc.gov.uk for more info.

but to do this they would need reciepts ?

and the reciepts would not show just business fuel consumption ?

and anyway he's on the FRS !

[Sockpuppet]

Yes they can. The copmpany can claim back the VAT on the fuel element of the 40p. Check hmrc.gov.uk for more info.

[Bluebird]

The 40p is a PERSONAL expense that is then re-imbursed by the COMPANY.

The COMPANY cannot claim back vat on this.

[rawly]

The 40p rate is not just a mileage rate for fuel, it also includes wear and tear - and is not directly related to petrol receipts. So, I don't see how it can be receiptable, never mind VAT receiptable.

But, I could be wrong!

[PAG]

I was under the impression that if you claim 40p or 25p /mile then the VAT element is out of equation. Also when you are on flat rate you can not claim any VAT unless, of course, a single tansaction above £2000.

[tim123]

Receipts are not equired for mileage provided you keep a log of your journeys.

Alan

Are you sure about this Alan? I thought that if you wanted to claim back the VAT element from the flat rate, you had to keep the petrol receipts.

If you're happy to forget the VAT and just claim the amounts tax free then you don't need them.

(of course this point is moot for someone on the FRS)

tim

[philip@wellwoodhoyle]

Intending to be on the FRS doesn't stop you claiming input VAT pre-registration. You can either register as normal and then switch to FRS for the second VAT return having claimed your pre-reg VAT on the first! Or you can apply for FRS from the first VAT return and can continue to claim input VAT on equipment/stock on hand as at date of registration, but then you must account for output VAT fully when/if you sell them.

But regardless, VAT on fuel wouldn't be claimable anyway. You can only claim for "services" in the six months pre registration and for "goods" on hand at the date of registration, so the most you could have claimed for is the amount of fuel in the tank, and anyway, you should probably be claiming the published mileage rates rather than your actual costs of motoring to avoid benefit in kind issues.

[dmini]

You cannot claim back ANY costs not related to your company and its startup!! Well, you can, but may get compelled into some fully catered accommodation courtesy of HMP later.

Added to which - you are on flat rate VAT. That means, that unless you purchase something BIG you cannot claim back the VAT on it. Unless it's a blooming big HGV, I don't think you will qualify

Unless of course you are a troll.
That would explain it, I suppose

[Nixon Williams]

You will not be reclaiming VAT if you are on the Flat Rate scheme.

Receipts are not equired for mileage provided you keep a log of your journeys.

Alan

[Bluebird]

I have recently gone ltd & soon to be VAT registered on the flat rate scheme (whatever that is).

Can I claim VAT back on fuel receipts I have kept from before I registered my LTd company.

The obvious answer to this is No.

1. You don't claim back on the FRS anyway.
2. Why would you think your company could claim for things before it existed and started trading ?

[DaveP]

I have recently gone ltd & soon to be VAT registered on the flat rate scheme (whatever that is).

Can I claim VAT back on fuel receipts I have kept from before I registered my LTd company.