Tom
I am a FH squatter
- Joined
- Dec 22, 2003
- Messages
- 17,379
I'm claiming back my business miles through my ltd company (miles done in my own car). I'm claiming back at £0.40 per mile (first 10k) for a diesel.
On the gross expenses claim, can I deduct VAT from that amount, and claim that back from my VAT return?
Example:
1852miles * £0.40 = £740.80
VAT of £740.80 = £110.33
Can I deduct £110.33 from my next VAT payment?
On the gross expenses claim, can I deduct VAT from that amount, and claim that back from my VAT return?
Example:
1852miles * £0.40 = £740.80
VAT of £740.80 = £110.33
Can I deduct £110.33 from my next VAT payment?