Sentences with phrase «reclaim vat»

If rental income is treated as zero - rated rather than VAT exempt, it would allow landlords to reclaim VAT on running, management and repair costs.

While VAT ought to be «cost neutral», in that businesses will be generally able to reclaim any VAT that they pay on goods or services, with the final consumer being the only one actually taxed, the reality may not stack up this way for one simple reason — the contract.

If you are providing VAT - liable services (you probablly are) and you register normally for VAT then you will be able to reclaim VAT on your buisness purchases but you will have to charge VAT to your clients.

In many circumstances customers can also reclaim VAT on the monthly payments.

Not exact matches

Cross border movement of goods will require import VAT to be paid and import declarations will need to be made, typically import VAT can then be reclaimed, so businesses will need to obtain the relevant evidence in order to secure a refund — unless simplifications are in place.

In addition, commercial vehicles allow the company to reclaim the 20 % VAT for vehicles used exclusively for business use.

The buyer's status makes no difference, the seller doesn't get involved in whether the buyer is able to reclaim or not (based on their VAT - registered status).

What makes this ideal for VAT registered businesses is that 100 % of the VAT is reclaimable if the vehicle is only used for business purposes and 50 % can be reclaimed if there is some private use.

All of the VAT levied on maintenance charges can also be reclaimed.

Other Notable Features: Free employee cards, shopping discounts through Mastercard Easy Savings, excellent business management tools, travel assistance, airport concierge, purchase assurance, Mastercard travel services, identity - theft protection, foreign VAT reclaim service

The investigation was prompted by a row last autumn when The Stuckists, an art movement opposed to the Tate's championing of conceptualist art, disclosed that the Tate paid # 705,000 (only # 600,000 to the Tate because VAT could be reclaimed) to Chris Ofili, a former Turner Prize winner and one of its trustees, for a work called The Upper Room in 2003.

The Tribunal found that the directors of Global Trading knew their trade in 2006 was connected with missing trader Intra-Community Fraud, and upheld HMRC's decision not to repay the company ｣ 327,995 in reclaimed input VAT.

HMRC has advocated a «reverse» charge or a flat 15 % VAT rate between member states that could be later reclaimed to deter carousel fraud but the simpler export of non-existent or significantly overvalued «antiques» from the UK would escape these restrictions.