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shadiya

Numpty VAT question

I have been reading the VAT manual and still none the wiser - is insurance vatable or not, does anyone know? I've been meaning to find out for years.... Embarassed

General farm insurance, tractor, employers and product liability are what I currently have. Thought DS would be quicker and considerably less annoying than the tax office's voice recognition software - thanks peeps Very Happy
vegplot

If you receive an invoice and it's VAT-able it will show the VAT value and sometimes the VAT rate.
shadiya

None of the invoices have VAT showing so I've always assumed not until someone asked me recently, which reminded me I didn't really know. I think it may be exempt but as I say, the manual was a little confusing.
Shan

I'm pretty certain insurance is exempt, however, it is an expense and reduces corporation tax.
shadiya

Corporation tax Shocked Laughing

I know it's tax deductible but suddenly went into "perhaps I've not been reclaiming vat for years paranoia" - something about doing paperwork that seems to do that to me Confused

Maybe it's "leaving it to the last minute itus"? Wink
vegplot

None of the invoices have VAT showing so I've always assumed not.


You not able to reclaim VAT on invoices that don't include VAT or don't have a VAT number so it's safe to assume they're not VAT-able.
shadiya

So in other words, I've been right for ages - marvellous! Laughing
Shan

None of the invoices have VAT showing so I've always assumed not.


You not able to reclaim VAT on invoices that don't include VAT or don't have a VAT number so it's safe to assume they're not VAT-able.

Having said that, some companies, like BT will only supply you with a VAT invoice if you request it.
Rob R

None of the invoices have VAT showing so I've always assumed not.

You not able to reclaim VAT on invoices that don't include VAT or don't have a VAT number so it's safe to assume they're not VAT-able.

Having said that, some companies, like BT will only supply you with a VAT invoice if you request it.

Or not.
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