VAT Archives - CruseBurke

What are the Main Types of Taxes in the UK?

Mia Hamilton03/03/2023tax , Tax Issues , Tax News and Tips , Tax Saving Tips , Taxation

It has been observed that the tax code in the UK is most extended since the tax year 2009. It will not be wrong to presume that tax affairs are one of the most complex matters here. This is due to the fact that the tax authorities and system is designed in a straightforward way. One of the main yet difficult parts of tax rules is that even spouses are considered separate entities. Every individual whether living in a civil partnership, married, or single is being taxed individually according to the tax law. Then there are a few exceptions observed as well. As a beginner in tax affairs in the UK, you must gather basic information regarding the main types of taxes in the UK. Moreover, this is imperative to mention here that when you will begin to pay taxes, you will have to go through three different stages. There is the involvement of the central government, local government, and the devolved government. The tax year is on the 6th of April and ends on the 5th of April and it is also known as the fiscal year. Moreover, there are main types of taxes that are mostly implemented for a resident of the UK. We have covered everything related to these types in this guide. Let us get started with the discussion to learn more. Reach out to our smart and clever-minded guys to get an understanding of the main types of taxes in the UK. We will help to understand your queries instantly. What are the Main Types of Taxes in the UK? Usually there considered to be six main types of taxes that are implemented on individuals when living as a UK resident. This involves the tax liabilities of paying the national insurance contribution, value-added tax, excise duties, corporation tax, stamp duty, and income tax. The relevant details are explained below for further understanding. 1- National Insurance Contribution National insurance is paid by individuals in the UK to ensure that they qualify for state pension and some other certain benefits from the government. National insurance contribution is mandatory to pay for the ones who are more than the age of 16 and earn to a certain limit. In the case of being self-employed, the profit has to be more than a certain amount to bring in the liability of paying the national insurance contribution. Moreover, there are different classes of national insurance contributions. This explains that not every individual is paying the same amount. The decisive role is played by the amount you earn and what is your employment status in this regard. You must also ensure that there are no gaps in the record of your past payments of national insurance contributions. 2- Value-Added Tax (VAT) Value-added tax is also known as a consumption tax. This tax is also a great source of government income just like the national insurance income tax is. The standard rate of VAT which is 20% is applied to several common things in the UK. The fair of taxis, pushchairs, prams, chocolates and alcoholic drinks are a few examples of which VAT is implemented with a standard rate normally. However, the rates of VAT on the mobility of elders, solid fuel, heating oil, gas, electricity, car seats, and oil is a little lower than other things. There is a category of zero rates items well which includes poultry, meat, fruits, vegetables, and household water. Then comes the things that are exempted from VAT. 3- Excise Duties Excise duty is normally charged on things like vehicles, betting, tobacco, and alcohol. The individuals who are involved in producing these items are also charged excise duty. Normally the excise duty tax is implemented on the final price for sale. The consumer will have to pay the excise duty indirectly to the government in the UK. There is a separate form for the excise duty as well. So it is better to be aware of the standard rates of excise duty to know what exactly are you paying in form of tax indirectly to the government. 4- Corporation Tax A corporation tax is known to be a tax that is implemented on the number of profits of a company. This explains that if you are involved in carrying out business through a limited company, a foreign company that has a UK branch, or any club corporation, you will be liable to pay corporation tax. There is a standard rate of corporation tax as well which could even come down in certain situations. This depends on the kind of business you are carrying out that will decide how much you will pay as a corporation tax for your limited company. 5- Stamp Duty This tax is known as the stamp duty land tax. If you are an individual who is interested in buying a piece of land or a party in the UK that has prices over a certain figure, you will have to pay stamp duty land tax. In the case of buying a first home in the UK, you might get entitled to some discounts in this regard. In some cases of buying the first home, you will not have to pay any tax at all. 6- Income Tax This kind of tax is implemented on your income directly. How much amount you will pay in form of income tax depends on the figure you are learning that is over the amount of your personal allowance. You will have to consider the fact about which tax band you belong to according to your earnings. There are some cases where you can even apply for income tax relief. The Bottom Line Now that we have gathered a fair amount of information about what are the main types of taxes in the UK, we can bring the discussion towards wrapping up. There are main six types of taxes that are normally implemented according to your unique …

Claiming Back the VAT on Commercial Vehicles

Mia Hamilton16/01/2023tax , VAT

There are several businesses that have a clear understanding of how they can reclaim VAT on commercial vehicles. This is because the VAT input is allowed for commercial vehicles and it is blocked in the case of personal cars. However, you must first learn to differentiate what is a commercial vehicle and how its use is different from your personal vehicles. Many of you say that there is no issue in identifying a commercial vehicle. However, it’s not as easy as it may sound. The common examples people tell are about transit vans and HGV, which is right to a certain extent also. Vehicle companies are more inclined these days to manufacture vehicles with a dual purpose. This is why it becomes a little complicated for common people to identify commercial vehicles. Moreover, when you are carrying out a small business, it is imperative to keep yourself aware of the vat on commercial vehicles. You must gather information about the difference between commercial and personal vehicles. Also the use of dual-purpose cars, how is it beneficial for your business. This will help you to deal with these vehicles and make the most business benefit from the right kind of use of these vehicles. This guide is consciously compiled to explain the fact about what are types of cars that can input vat, how to reclaim VAT on commercial vehicles, how to check for VAT recovery on commercial vehicles, and what to consider before you plan to buy a commercial vehicle. Reach out to our smart and clever-minded guys to get your VAT on commercial vehicle queries answered quickly. We will help to decide how to deal with your rules and their implications. What are the Types of Cars that can Take the Input of VAT? You are aware of the fact that you can only reclaim VAT on vehicles that are commercial and solely being used for business activities. Common examples of commercial vehicles are coaches, vans, tractors, and HGVs. Now comes the example of vehicles that are manufactured in a dual-purpose way. These are known as dual-purpose vehicles. These come under the category of commercial vehicles even when they are being used for other purposes as well. The market sells them as lifestyle vehicles. This is allowable for you to reclaim vat on this kind of vehicle fully. HMRC considered the following in the list of dual-purpose vehicles: Caravans Motorhomes Motorbikes Vans have the rare seats Other kinds of vans Is VAT charged on Commercial Vehicles” VAT (Value Added Tax) is generally charged on commercial vehicles when purchased new. However, unlike regular cars, businesses can typically reclaim this VAT amount if they are registered for VAT and use the vehicle solely for business purposes. In the case of used commercial vehicles, the VAT situation can vary depending on whether the seller is VAT-registered and the method used for selling (e.g., margin scheme). How can I Reclaim VAT on Commercial Vehicles? Before you aim to reclaim vat on commercial vehicles, you must first identify when is the vehicle being used for business purposes and when is it being used for personal use. This is because the checker of VAT will most likely be interested in knowing and figuring out these details about the vehicle. In the case your vehicle is used for private use as well, you should make adjustments in the VAT accordingly. However, it is allowed to have occasional use of commercial use for the sake of private work as well. However, you must have the evidence to make a claim that the use was only incidental. The good news is that you can reclaim VAT on the vans that you have bought only for your business commercial use. But in the case of dual-purpose vehicles that are partially being used for personal uses as well as commercial use, you will observe restrictions in reclaiming VAT for such vehicles. Checking of VAT Recovery on Commercial Vehicles by HMRC The recovery of VAT is genuinely checked when the inspection team comes from HMRC. This is specifically checked for commercial vehicles. Now if you have bought the dual purpose car, there will be a check the personal use if any and the inspection will be carried out accordingly. The response of HMRC is usually aggressive in the case of dual-purpose vehicles that are being used for the purpose of personal activities and the reclaiming of VAT is added with full details. In another case of benefit in kind for direct tax, the VAT will not be reclaimed fully again. Otherwise, you will not find any restrictions in the recovery of VAT. If the private use is for a local trip to the nearest store, even then it is allowed for you to reclaim VAT fully. A Practical VAT Tip to Consider Before Buying the Commercial Vehicles In simple words, we can say that when you buy a vehicle to be used fully for business purposes, there will not be any VAT restrictions to reclaim. On the other hand in the case of dual-purpose vehicles, you are using it for personal use significantly. You will find the restriction in the input tax and what you can reclaim in VAT. The Bottom Line Now that you have gathered a fair amount of information about VAT on commercial vehicles, we can bring the discussion towards wrapping up. This is challenging for people to pay VAT when they are paying the prices of commercial vehicles. This is why HMRC allows reclaiming this amount of money. However, there are certain rules related to this. The rules have to be met for a successful claim. Also, ensure that the commercial vehicle is being used for business purposes only and that there is no involvement in private chores or relevant activities. This private activity will have to go into adjustment if there is any evidence of personal use. We hope these few minutes of reading will help you to …

How to Record VAT on Expenditure Invoices When Not VAT Registered

Mia Hamilton31/08/2022VAT

Recording VAT is different for a person or organisation that is VAT registered from that of a non-registered VAT person or organisation. For this, you might become confused over the setting up of your balance sheet and how should you itemise your VAT on it. What to do when you are not registered for VAT? The answer is simple to this tricky question. When you are not registered for VAT, it simply means you are not liable to pay VAT to the HMRC. So, it’s essential to consider the concept of VAT and how should deal with the question of recording VAT on expenditure invoices when not VAT registered. So, let’s start! Our clever and qualified tax advisors and bookkeepers can assist you to maintain the proper VAT records and calculate accurate VAT refunds at CruseBurke. Feel free to contact us. What is Value Added Tax (VAT)? A VAT is a tax paid to the HMRC by the VAT registered business for their supply of goods and services. The VAT is applicable on the supply of zero-rated, reduced rate or standard-rated goods and services. As a business person, you should prepare your balance sheet by adding a VAT-inclusive price to the sheet as well as adding the VAT amount separately. Besides, you have to add all the VAT information on the invoices for the products you have sold and received the VAT on them. Moreover, you need to calculate the VAT returns to inform HMRC about the VAT amount you received and the VAT you paid. It gives you an estimate of the net VAT you can reclaim from HMRC or you owe to HMRC. What If I am Not Registered for VAT? On the other hand, if you are not VAT Registered then you do not need to calculate the VAT returns and prepare invoices. Instead, you can add the gross value of the goods you sold as a single price. The VATs won’t be listed as a separate entity on your balance sheet. Even if you are recording VAT separately, it won’t serve you any purpose as you cannot reclaim any VAT from HMRC and you do not any VAT to the HMRC. So, it is an additional hassle and wastage of time adding VAT into the balance sheet. If you add VAT as a separate entity into accounting software, it will show you as a debtor and will advise you to reclaim all the expenses from the HMRC which will lead to the understatement of the business expenses. What If I Become a VAT Registered Later? Can I Reclaim VAT? There are a few circumstances where HMRC supports and provides the facility of reclaiming the VAT on some business expenses after you register for VAT later. For this, tax experts advise maintaining a proper record of all the business expenses and the VAT accurately. So that you can reclaim those expenditures later. For this, you need to ensure that your earnings have reached or crossed the threshold of £85 000 during the previous year. Otherwise, if your earnings are going to reach this threshold within the next 30 days, you can also register yourself for VAT. On the other hand, you can reclaim VAT on goods and services you are still using that was bought four years ago. Besides, you can also reclaim business expenses that were used on the goods and services you are still using. Furthermore, you can reclaim VAT within the 6 months of services before you register for the expenses made before the VAT registration. Which Business Expenses are VATable? All the business expenditures accrued for purely business purposes are VATable and a business can reclaim these business expenditures from the HMRC. If you are making business expenses for personal use like using the mobile for personal use. Then you can reclaim VAT only on use for business purposes and not for personal use. The Bottom Line The wrap-up of all this informative discussion is that if a person is not registered for VAT then they are not required to itemise their VAT separately into their balance sheet. Instead, they can add the gross value of their purchase from another VAT registered person as an asset. However, if you registered yourself as a VAT registered later, it will not affect your VAT reclaims considerably. But it is highly recommended to maintain an accurate record of all your purchases and invoices for the last few years. Let’s blow away all your tax or VAT worries by hiring professional and experienced content writers at CruseBurke in the United Kingdom. Reach out to us by giving us a call. Disclaimer: All the information provided on Not Registered For VAT, including all the texts and graphics, is general in nature. It does not intend to disregard any of the professional advice.

Do you Pay VAT on eBay Fees?

Mia Hamilton18/08/2022VAT

In the UK, when you sell any product or service, value added tax which is known as VAT is charged in most cases. Market place retailers are clear here that they will have to pay VAT on sellers’ fees. This makes a requirement of charging VAT to the customers on any product purchase. The standard VAT is 20%, however, it is vital to have an understanding of all the VAT obligations as a seller. You should have an understanding of how the eBay fee calculator UK works for you as well. Before delving further into the discussion, you should be able to know the basic requirements that require your attention if you are a seller on eBay. You must be aware of how to define value added tax, what are VAT charges for the sellers that they are allowed to charge on their product purchases, what is eBay fees calculator in the UK and how it works. Reach out to one of our professionals to get to know what is the best way to use the eBay fee calculator UK for your business. We will love to offer instant help! What is VAT? VAT is the abbreviation of value added tax. The standard VAT is 20% which is charged as a consumption tax on several products and services sold out in the UK. However, there is an exception in this case. VAT is charged at a zero rate of 5% on a few products that are sold out in the UK. The businesses that expect to exceed a certain limit of turnover within 12 months are bound to get VAT registered and reach out to HMRC for this purpose. In simple words, once you are done with making your business VAT registered, you are now able to charge VAT on all the services and products that you are selling. While you are submitting your quarterly VAT returns, you will have to submit this payment to HMRC as well. In the case, your business is outside of the UK and you’re sending products to the UK, you will have to register your business for VAT. There is no limit on the registration threshold. The most beneficial point after VAT registration is that you are allowed to reclaim the VAT amount that you have paid for the products and services. Even the VAT you have paid as a seller fee is allowed to be reclaimed. eBay Sellers and VAT Charges for the Customers Some people purchase the products and services to resell. You are required to have an eBay business account for this purpose. In the initial stage, it is not required to have charged VAT on the products. Unless your business turnover goes over the figure of £85,000, you can go on carrying out the business activities without charges of VAT. Once your turnover reaches the required limit, you will have to get registered for VAT and you can then start charging VAT on your products and services to the customers as well. At the time of VAT returns, you will have to pay the amount of VAT to HMRC as well. In the process of charging VAT on the selling point of your services and products, you should ensure prices include the amount of VAT. This is because once the customer has decided to make a purchase, you will not be able to add it then. In the case of international sellers who are using eBay sellers in the UK and sending your products to UK customers, you will have to register your business for VAT. This makes you charge VAT on all the products and services you are offering to your UK customers. eBay Fee Calculator UK If you are a seller who is UK based, you are eligible to pay 20% VAT on the eBay seller fee. In the case your business is registered for VAT, you have a piece of good news to reclaim the amount of VAT that you paid with the eBay fees. If you are a European Union seller, you are allowed to apply for the exemption of the seller fee once you are done with the registration process. In case of being unsure whether you should register for VAT or not, get in touch with the relevant professionals to find out the best for your business. The Bottom Line Now that you have gathered a fair amount of information about the eBay fee calculator UK, we can bring the discussion towards wrapping up. We can say that being an eBay seller may sound easy, however, it comes with the struggle of certain requirements that are discussed above. We hope these few minutes of reading will help you to know whether or not your business should be VAT registered and how to handle VAT on eBay fees. Get in touch with our young, clever and tech-driven professionals if you want to choose the best eBay fee calculator UK for your business. Disclaimer: The information about the eBay fee calculator UK provided in this blog includes text and graphics of general nature. It does not intend to disregard any of the professional advice.

Difference Between Sales Tax and VAT

Mia Hamilton08/07/2022Tax Issues , Taxation

The development of a country’s economy has a lot to do with tax and related policies. There is a possibility of the production of the growth of the economy through the policies of taxation before the time as well. Due to this, the professionals keep on updating and making new policies with the help of finance experts. To make such decisions, the growth and capacity of people who will pay the tax are considered every year. People tend to confuse the difference between sales tax and VAT. Keeping this in mind, we aim to make this clear in this guide. VAT and sales tax are known to be the two popular tax structures. Their structure came into being a long time ago. This is certain that both VAT and sales tax serve the same cause as both of them are meant to apply to the services and products offered by different systems. However, there are still some differences that make them both define uniquely. We have gathered a basic and introductory explanation of VAT and sales tax along with the prominent differences between them. Get in touch with one of our experts if you are stuck with your sales or value-added tax. We will offer to provide instant help. What is Value Added Tax VAT is the abbreviation of value-added tax. It is a system that is multi-stagged taxation. At the level of production, VAT is the kind of tax that is charged whenever a value is added. VAT is paid by the consumer and it tends to increment at every stage of the production of whatever product your business offers. In the case of shared services, VAT is compensated as well. VAT is not meant to charge on each step of the production. When it comes to export, VAT is not charged and exports are considered exempt from this. It is vital to keep in knowledge that when a buyer pays the amount of money to purchase your service or product, the cost of material used in the production will be subtracted. Moreover, VAT is a standardised model and does not tend to affect the customers more than the income tax. individuals with lower income find it difficult in the longer run. Because VAT cumulates at the production stage, it is known as cascading tax. VAT is not affected by the income of the taxpayers because it is allowed to charge only on the utilised products and services. Unlike the case of income tax where the tax percentage is more if one earns more money. VAT is equal for all the consumers who use your services and products. An Introduction to Sales Tax When it comes to the sales tax, it is charged on a product at the time of sale. It is known as the consumption tax that applies at the point of sale of any products or services. The formula for sales tax collection is easy and simple. When a consumer purchases any product, the retailer will collect it and submits it to the government. All the businesses come under the liability of the sales tax. The total value of the product is charged with the sales tax. Unlike VAT which is shared on every level of the production stage when value is added to the product, sales tax is known for adding to the cost of the product. The value of the product is changed due to this and the tax will be collected in this process as well. According to the research of economists, sales tax does not involve any harmful factors to intervene in the growth of the economy. This is because the sales tax does not change as the income or business profit of the consumer changes. Difference Between Sales Tax and VAT The prominent difference between VAT and sales tax is the way it is applied to a commodity. Other prominent features that belong to these types of taxation structures are listed and explained below: The application of the tax in both structures is different. Because in the case of VAT, it is allowed to charge tax at every level of production while sales tax is charged on the cost of the product when it is time to sell the product. VAT is known as a taxation system that is multi-stagged and tends to cascade at all levels of production. On the other hand, sales tax is known to be a single-point ta system. It is not possible to evade VAT, however, there are legal possibilities to evade sales tax. VAT is a tax type that belongs to the vale added stages of a product whereas sales tax belongs to the single-stage when the overall value of the product is finalised. VAT is supposed to be a burden that is given to all the manufacturing entities right from the initial stage of production till the product is finalised. However, sales tax is only for the end-user to be paid. The Bottom Line Now that you have gathered a fair amount of information about the difference between sales tax and VAT, we can bring the discussion toward wrapping up. We can sum up by saying that VAT and sales tax are two prominent structures of the taxation system that are mainly used to charge tax on the products and services offered by businesses. However, the way both VAT and sales tax is applied to the products is different from each other. Which makes each tax structure different and unique in its way. We hope these few minutes of reading will help you to develop a better understanding and help you to deal with the taxation systems more professionally. Reach out to our young, clever, tech-driven team members to learn the difference between sales tax and VAT. Call us on 02086868876 or email us today. Disclaimer: The information about the difference between sales tax and VAT provided in this blog includes text and graphics in general. This does …

Learn to Reclaim VAT on A New Build Project

Mia Hamilton09/05/2022Finance , Landlord , VAT

It has been observed that self-builders are often confused about reclaiming VAT on a newly built project. This tends to overlook the right that they can actually reclaim VAT on a new build. All they need to know before the process is navigated is what kind of projects are eligible. Self-builders are often found occupied with bringing your homebuilding visions to life, planning, and decision making that they tend to forget to reclaim VAT. The housebuilder’s scheme by HMRC is all they need to learn before they start the process. This is important if you intend to be successful with a self-build project. In case your project meets the eligibility criteria and you have all the required documents for claim submission, it is possible to claim 20% of the total budget. In this article, we will learn everything you need to know about reclaiming VAT. Reclaim VAT on A New Build – The Rules There are a few conditions and you are able to reclaim VAT under DIY Housebuiklder’s Scheme by HMRC. The conditions are: If you are planning to convert an old building into a new dwelling. If you plan to build a new house from scratch. A dwelling back to life that was not in use for more than a decade. A new dwelling in its own right has to be created to meet the eligibility standards. Refurbishments and extensions do not come under new dwelling projects and so they are not eligible for reclaiming VAT. For What Projects Can I Reclaim VAT? Normally self-builders are so occupied that they tend to overlook the rates area. For security, it is important to know the rates of VAT so that you can cross-check the rates inaccuracy factor. The cost that is linked with your project must be clearly understood by you as well. In case of any mistake, there is no chance that you will get a refund from HMRC. Incorrectly charged VAT will be your deal to handle. There are certain types of projects that are eligible for reclaiming VAT under the Housebuilders’ Scheme. This include the following: A newly constructed building to use for business purposes. A newly built or conversion of a dwelling that is used for your family’s holiday home. Renovation of a dwelling that is not in use for 10 or more years. Shrubs, turf, fencing, paving, or any other landscaping for outside work. Conversion of an old building that is non-residency. Church, hospital, and barn come under such examples. Construction of a building that is planned to build from the scratch. It is called a new dwelling. This could come from your personal use, family use, or holiday purposes. The relatives can also use this dwelling for holiday stays. The use of garages and their construction as a new dwelling. Stuck with your accounts and looking for a helping hand? How about you get our guys on a quick call. We love talking about taxes, payroll management, and any opportunities that help you expand your prospects. Call us on 02086868876 or email us today. Final Thoughts Finally, we can sum up the discussion as you have developed a better understanding of Reclaim VAT on A New Build. Most of the contractors get into the wrong process as they do not have enough experience and the right information to deal with new dwellings. People are of the view that they will get the VAT in the end anyway. Leaving this process to the contractor is not a good idea. In case you are still unsure about any of the VAT aspects, it is recommended that you seek professional help. We hope this piece of information helped you to gather accurate knowledge. Disclaimer: The information about Reclaim VAT on A New Build provided in this article is general in nature and does not intend to disregard any professional advice.

Reclaiming VAT on Fuel & Petrol: How It Works

George04/08/2021VAT

This is one of the most frequently asked questions that we hear time and time again: what is the process of reclaiming VAT on the fuel? Many of our customers are looking for answers regarding VAT on mileage claims. Though reclaiming VAT on fuel is a burdensome process, as you need proper evidence to prove that you have used the fuel for business mileage. Additionally, you are also required to follow the standards of HMRC to reclaim VAT on fuel and petrol. So, let’s talk about the ways to reclaim VAT on fuel and petrol! Need a VAT Accountant to Reclaim VAT on Fuel, Contact CruseBurke! Ways to Reclaim VAT on Fuel In this blog, we have compiled four ways to reclaim VAT on fuel and petrol for business use. These include: 1) Reclaiming 100% VAT on Fuel If you have used fuel or petrol wholly for business purposes, you can claim 100% VAT incurred on it. However, here you need to provide evidence to HMRC that you have used it entirely for your business and you have not used it for private purposes. It might be impossible to prove unless you are a taxi firm or a driving school. 2) Reclaiming 100% and Fuel Scale Charge It is the commonly practised approach by many businesses where the companies provide their employees with a fuel card. With these fuel cards, they can pay for fuel both for personal and business use. It is the simplified way of levying tax on the fuel that is used for private purposes. By paying for a fuel scale charge, you can claim VAT used for business purposes. This charge depends on C02 emissions and the type of car driven. However, you need to keep in mind that if the business mileage is not up to a certain standard or low, it can be difficult to claim back VAT on it. HMRC auditors can easily identify and check the finance team on VAT reclaim by employing this method. As in many cases, the companies forget to pay/update it when the fule scale charge changes. Boost your savings with our bookkeepers and accountants. Find out how we can reduce your tax burden! 3) Claiming Only Business Mileage Another option to claim 100% of business mileage is to claim VAT incurred on the fuel used for business mileage. This implies that you need to keep a proper record of where you have travelled and you also need to have VAT receipts to support your claim. This can be a complex task, therefore you can go for a flat rate claim (advisory fuel rate) for business mileage consumed and reclaim VAT on this amount. 4) Don’t Want to Reclaim VAT Some businesses prefer not to claim any VAT on business fuel and they cover its cost personally. Generally, it is done if the business mileage is too low and the amount that is going to be claimed is too small. Some people also avoid claiming VAT as it requires proper bookkeeping and recording. Quick Wrap Up To sum up, hopefully, you have got enough information on reclaiming VAT on fuel and petrol. Remember that you can claim the VAT (that is not claimed) used for business up to the last four years. HMRC may ask you to provide evidence like receipts, to support and prove your VAT reclaims. If you are consuming a lot of mileage for business purposes, reclaiming VAT on fuel can save a lot of your money. However, you need to remember that if you make a mistake, it is going to cost you instead. So, it is preferable to take the services of a qualified accountant to keep on top of your finances. For further queries on claiming back VAT on fuel, reach out to our accountants for expert advice. Get in touch today! Disclaimer: This blog provides general information on claiming back VAT on fuel.