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Hi Guys,
this might be a very easy answer and something staring me in the face. I’ve bought a second hand van and want to reclaim the VAT on my VAT return, how do I do this please, is it the same way as I claim back materials etc?
thanks in advance
If you have a receipt from a VAT registered dealer showing that you’ve been charged VAT, then assuming you’re a fully taxable business then yes you’ll recover VAT the same as you would with materials.
If you’ve bought second hand there’s no guarentee that you have been chaged VAT though, it might be sold under a margin scheme which would mean theres no VAT recoverable by you, but the receipt/invoice should tell you that.
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