Flat Rate Scheme

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buffdaddy replied

9 August 2007, 14:14
Still a valid question though.

If it were a genuoine capital item, i assume it would be legal??
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Pacman replied

9 August 2007, 12:43
Originally posted by TheFaqqer

The £2000 is for capital items only - training doesn't count.

Ah, well that's that then. Thanks for replies!
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Old Greg replied

9 August 2007, 12:42
Originally posted by TheFaqqer

The £2000 is for capital items only - training doesn't count.

In the public sector, you could capitalise the training as a project expense. Happy days.
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Anderson replied

9 August 2007, 12:41
I'm sure your accountant will advise you that it is above £2000 including VAT that you can claim VAT back on for capital purchases within the flat rate scheme. Is training a capital expense?
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TheFaQQer replied

9 August 2007, 12:41
Originally posted by Pacman

Has anyone ever asked a supplier to charge over the odds to get the ex.VAT price to over £2000? The reason I ask is that my company is paying for some training, and the cost is £1800 + VAT, so total outgoing is £2115. If I asked the supplier to charge me £2000 + VAT, I can reclaim the VAT back, therefore my company would save £115, they'd get an extra £200, everyone's happy! Except Hector of course, but he has more than enough money from us!

It's all academic at the min as I'm still waiting for my voluntary VAT registration (since end of March! ) but I thought I'd ask the question anyway.

The £2000 is for capital items only - training doesn't count.
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Pacman started a topic Flat Rate Scheme

9 August 2007, 12:26
Flat Rate Scheme

Has anyone ever asked a supplier to charge over the odds to get the ex.VAT price to over £2000? The reason I ask is that my company is paying for some training, and the cost is £1800 + VAT, so total outgoing is £2115. If I asked the supplier to charge me £2000 + VAT, I can reclaim the VAT back, therefore my company would save £115, they'd get an extra £200, everyone's happy! Except Hector of course, but he has more than enough money from us!

It's all academic at the min as I'm still waiting for my voluntary VAT registration (since end of March! ) but I thought I'd ask the question anyway.
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