Flat Rate scheme VAT reclaim for assets

[electronicfur]

Thanks for the link Moscow Mule.

With regards to use, my company also does a sideline in website design and art, so requires a camera for those purposes.

[DaveB]

He has to take screenshots for documentation purposes .... he is branching into web design and needs some images ... his company website needs pictures for its home page ...

Feel free to try it, but don't be surprised if HMRC ask for proof or simply dismiss it out of hand. This is the VAT man you are talking about. They have seen it all before and they do not take kindly to people trying to pull a fast one.

[pjclarke]

He has to take screenshots for documentation purposes .... he is branching into web design and needs some images ... his company website needs pictures for its home page ...

[DaveB]

You can only claim it back if it was purchased wholly and exclusively as a result of operating your ltd co.

If your Ltd supplies your servcies as a coder and you happen to be an amateaur photographer you cannot claim the cost of a new camera through the company as HMRC will argue, quite rightly, that you would have probably purchased it at somepoint anyway and that you dont need it to oeprate your ltd co.

[Moscow Mule]

So if I get one receipt with one price for a "Camera system" I can claim, but not if I get a receipt with a price breakdown for each item?

Cheers,
EF

The receipt can be itemised but it has to be one receipt / invoice.

Check yourself

http://www.hmrc.gov.uk/manuals/vatma...al/FRS6500.htm

[EchoSierra]

If they are sold together and you have one price not two then yes.

However you must be able to justify it. You must be a photographer or similar for using the camera. If you are a plumber then you'll have a hard time justifying it.

If your primary job/salaried income is programming and you have a side job (photography) that you buy equipment for, how much money, if any, do you need to make from photography to allow you to justify claiming the camera equipment expense?

Interested to know as I'd like to buy a DSLR soon.

[electronicfur]

So if I get one receipt with one price for a "Camera system" I can claim, but not if I get a receipt with a price breakdown for each item?

Cheers,
EF

[Sockpuppet]

If they are sold together and you have one price not two then yes.

However you must be able to justify it. You must be a photographer or similar for using the camera. If you are a plumber then you'll have a hard time justifying it.

[electronicfur]

I need to buy a camera body and lenses. My Ltd company is on the Flat Rate scheme.

The camera body and lenses individually are less than £2000, but the total camera system is over the £2000. Can I reclaim the VAT?

Cheers,
EF