- Most input tax incurred by VAT registered businesses can be recovered, but there are exceptions
- Blocked VAT claims may occur due to lack of supporting evidence, incorrect evidence, exempt supplies, non-business activities, time limitations, business entertainment, car purchases, car leasing, and fuel costs
- Input tax related to exempt supplies or non-business activities cannot be recovered
- Input tax on car purchases is usually blocked, except in specific circumstances
- Input tax on car leasing is usually 50% recoverable
- Fuel costs for personal use are blocked from recovery
Source: deeksvat.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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
