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UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: RSWindows on January 12, 2009, 07:56:28 pm

Title: Flat Rate VAT......
Post by: RSWindows on January 12, 2009, 07:56:28 pm

Does anyione know how this scenario would work...

You are on flatrate VAT scheme, so u charge approx 15-17.5% and you pay 9-10% but can only claim VAT back on purchases over about 3 grand. So, this means you cant claim VAT back on fuel, but you can put fuel through as an expense so you recover the cost anyway? Or is it just the actual cost of the fuel minus the cost of the VAT on the fuel you can reclaim?

This has been buggin me for ages!

Title: Re: Flat Rate VAT......
Post by: ronnie paton on January 12, 2009, 08:01:09 pm

ok it works like this say your turnover is 100k you bay 15-17.5k vat and your expenses are 30k all less than 3 grand and all got vat on you take4.5k-5.25k away from your vat bill.