The right to recover VAT on costs incurred by a business is underpinned by the need to demonstrate, not just that the VAT costs would support a taxable business activity but whether they are used exclusively for the purpose of business. VAT on costs that are not used exclusively for business purposes would fail to qualify for recovery under Article 7 (2) (E) 1992/3222 Value Added Tax (Input Tax) Order 1992.
Source: centurionvat.com
Latest Posts in "United Kingdom"
- UK May Cut VAT on Public EV Charging to Offset Pay-Per-Mile Scheme and Boost Adoption
- UK May Cut VAT on Public EV Charging to 5% to Match Home Rates and Boost Adoption
- UK Overhauls VAT Grouping Rules to Attract Global Investment and Reclaim Overpaid VAT
- Supreme Court Rules VAT on Share Sale Costs Not Recoverable Despite Fundraising Purpose
- PFI Expiry: Managing VAT and Partial Exemption Risks at Asset Handback for Local Authorities
