Vat question


S

sks

I run a software company from home (VAT registered) and am getting a
conservatory built which will be my office. Can I claim the VAT back on it
or will it be frowned upon ?
 
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S

Sharky

sks said:
I run a software company from home (VAT registered) and am getting a
conservatory built which will be my office. Can I claim the VAT back on it
or will it be frowned upon ?
If you use the consevatory as an office say 50% (and 50% for enjoying
the sun) then it *may* be possible to reclaim 50% of the vat.

However, when eventually you want to sell the house, the vatman would
expect you to charge vat on the conservatory element of the house and
pass this back to him, so probably not a good idea!
 
P

peter

Sharky said:
If you use the consevatory as an office say 50% (and 50% for enjoying
the sun) then it *may* be possible to reclaim 50% of the vat.

However, when eventually you want to sell the house, the vatman would
expect you to charge vat on the conservatory element of the house and
pass this back to him, so probably not a good idea!
You may also become eligible to pay business rates on the property if
you do this - your accountant should be able to advise. The more normal
way AIUI is to pay yourself a regular expenses claim for 'Use of home
as office', and declare this on your P11D. I believe the revenue have
an agreed figure for this, I believe £20 per week is reasonable.
 
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R

Ronald Raygun

peter said:
You may also become eligible to pay business rates on the property if
you do this
Eligible? That's a funny way of saying "liable".
 

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