Have I got this right?

[tino]

Careful though if the GIG is not in the UK (though I'm guessing it is). FRS is problematic then if the invoices you raise are exempt/zeor rated rated rather than outside the scope of UK vat.

It is within the UK, just a bugger of a commute

Thanks for your help fella's

[ASB]

Careful though if the GIG is not in the UK (though I'm guessing it is). FRS is problematic then if the invoices you raise are exempt/zeor rated rated rather than outside the scope of UK vat.

[PhilAtBFCA]

Flat Rate Scheme ?

Hi tino

This might help re the FRS.

Capital assets more thna £2k net you can claim the vat, but yes, if its oo late this quarter, buying any assets and then change to FRS might be a good idea.

At least the flights should be tax deductible :-)

Phil

[tino]

tino

I am assuming you are not on VAT Flat Rate Scheme and wish to reclaim input tax, you may find that if many of your expenses have no vat on them, then FRS may provide an advantage ? This assumes that you are invoicing a UK company though.....

Phil

Yes Phil, the flat rate scheme more than likely would be better for me - Would I be as well getting any large capital purchases out of the way (new laptop for instance) before moving over?

I've left it too late for this quarter anyway (payment due next Tuesday)

Thanks for your help

[PhilAtBFCA]

Input VAT

tino

I am assuming you are not on VAT Flat Rate Scheme and wish to reclaim input tax, you may find that if many of your expenses have no vat on them, then FRS may provide an advantage ? This assumes that you are invoicing a UK company though.....

Phil

[tino]

Any VAT you pay out is reclaimable by YourCo. Of course, you have to have an audit trail to prove you've paid it out if asked. That's why you keep all receipts and invoices

However, if you are asking about where the VAT is charged...

Assuming you are running your own VAT-registered company and are charging the expenses back to the client, then no. All your travel expenses are part of the cost the service you are delivering to the client and the total inoice value should have VAT applied to all of it. Sounds counter-intuitive, but it's right.

But if you are only claiming those expenses from YourCo and aren't getting specific payments from the Client to cover them, then VAT doesn't even come into it.

HTH

Thanks Mal, yes I realise that. Paying £270 on flights though where I can't reclaim any VAT (as it's VAT Neutral I believe) is borrocks though

thank you!

[malvolio]

Any VAT you pay out is reclaimable by YourCo. Of course, you have to have an audit trail to prove you've paid it out if asked. That's why you keep all receipts and invoices

However, if you are asking about where the VAT is charged...

Assuming you are running your own VAT-registered company and are charging the expenses back to the client, then no. All your travel expenses are part of the cost the service you are delivering to the client and the total inoice value should have VAT applied to all of it. Sounds counter-intuitive, but it's right.

But if you are only claiming those expenses from YourCo and aren't getting specific payments from the Client to cover them, then VAT doesn't even come into it.

HTH

[tino]

I'm currently on a gig which involves staying away Monday - Friday. My week is thus:

Monday - Fly to Site,
Monday - Thursday - Stay in hotel/B&B
Friday - Fly Home

These expenses (flights, digs, cabs, trains etc) all mount up to on average £400 - £500 per week.

Am I correct in thinking the ONLY VAT I can claim is for accomodation as air fares and public transport are VAT neutral as well as the fact most cabbies aren't registered for VAT?