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Legal Obligation

  • 16-09-2008 12:04pm
    #1
    hoppo254
    Closed Accounts Posts: 145 ✭✭


    Hi Hopefully this is in the correct area.

    Can anyone tell me if retailers etc are under any obligation to provide a VAT breakdown on their receipt if requested ?

    I am trying to reduce our companies VAT payments to revenue by claiming back as much of the VAT paid out as possible. The company only consists of 3 employee's and i am wondering can i claim back the VAT (if) paid under the following items
    • Lunches
    • Travel (Buses,Trains etc)
    • Rent (If in our premises lease)
    • Clothing
    • Fuel
    • Company Equipment (Laptop's etc)
    • Utilities (Elec,Oil Heating)
    • Internet Charges

    Any advice would be appreciated


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Seek a professional.

    Generally VAT is repayable on expenses incurred by the business.

    Lunches - No
    Travel (Buses,Trains etc) - No
    Rent (If in our premises lease) Leases less than ten years are VAT exempt unless waiver of exemption is in place.
    Clothing - No
    Fuel - No
    Company Equipment (Laptop's etc) Yes
    Utilities (Elec,Oil Heating) No
    Internet Charges Don't know actually.

    This is off the top of my head and is not to be relied upon. You need a professional's help to file aVAT return.


  • #3
    Legend100
    Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


    If the utilities are business (and I mean fully business) expenses, input vat will be allowable. The Revenue may allow an apportionment if the utilities are part personal/part business ie you may be allowed 33% of vat on an ESB bill if you run an office from home as an example but it depends on your trade circumstances. Just don't go claiming on everything as the Revenue are having a field day with Vat Revenue audits at the moment.

    As Setanta said, all the other items, except for equipment, are not allowable for vat purposes.

    As regards to the internet charges, "it depends" is the best answer unfortunately. If you have a vat invoice you may claim the input credit, if you don't, you may not. Also, the business/personal point above will come into play here again.


  • #4
    ams
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭ams


    afaik if the invoice is not addressed to the business you can't claim the vat on it even if say 50% of the bill relates to business use. My boss has disallowed Vat claims like this before.

    Vat on internet charges is claimable as long as the invoice is a vat invoice and is adressed to the business.


  • #5
    information
    Closed Accounts Posts: 362 ✭✭information


    ams wrote: »
    afaik if the invoice is not addressed to the business you can't claim the vat on it even if say 50% of the bill relates to business use. My boss has disallowed Vat claims like this before.

    Vat on internet charges is claimable as long as the invoice is a vat invoice and is adressed to the business.
    No true, you can claim once you have the invoice and proof that it is a business expense.
    Told by accountant and confirmed by revenue.


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