Commentary

V7.446 Input tax—planning points to consider

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.446 Input tax—planning points to consider

Part V7 Tax planning | Commentary

V7.446 Input tax—planning points to consider

The following planning points should be given consideration.

  1.  

    •     Input tax can be reclaimed on the costs of entertaining non-employees to attend an event or function as long as a charge is made to the non-employees and output tax is declared on this charge. The charge can be at below cost value.

  2.  

    •     Remember that although input tax on staff entertaining costs can be reclaimed in most cases, this does not apply when the function of the staff member in question is to act as host for non-employees.

  3.  

    •     Be aware of the opportunity

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial