The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of what conditions need to be met before a business is entitled to treat VAT incurred as input tax. This note should be read in conjunction with the other notes in the ‘Claiming input tax’ subtopic.
For a flowchart outlining the procedure for claiming input tax, see the Flowchart ― procedure for claiming input tax.
The term ‘input tax’ includes the following:
VATA 1994, s 24(1); SI 1995/2518, reg 29(1)
The VAT must be used, or intended to be used, for the purposes of the business carried or intended to be carried on by the person receiving the supply.
VAT paid on the above only becomes ‘input tax’ if it meets the conditions outlined below.
The following conditions must be satisfied before a VAT registered business can reclaim input tax:
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