Claiming VAT Back

WKN · 25 Jul 2012 at 21:27

My uncle owns his own Mortgage business, I am planning on building a new rig in January, If he was to pay for the Components could he claim the VAT back?

Thanks.

Edit: The components will be brought from OcUK.

[TW]Fox · 25 Jul 2012 at 21:28

No? Why would you building a new rig have anything to do with the day to day operation of your uncles business?

imb4tman · 25 Jul 2012 at 21:29

If the computer is for his business then yes.

RomanNose · 25 Jul 2012 at 21:29

Worst ever I am about to commit fraud thread ever.

tom_e · 25 Jul 2012 at 21:30

He can offset it against his tax if it's going to be used within the business, if not then no.

Destination · 25 Jul 2012 at 21:30

Does he pay VAT?
Is he vat registered?
Does he charge VAT on his products and services?

feck199 · 25 Jul 2012 at 21:32

RomanNose said:
Worst ever I am about to commit fraud thread ever.

This ^^ Very True.

tom_e said:
He can offset it against his tax if it's going to be used within the business, if not then no.

Also true!

Its not worth the risk to him, or his income to offer you this.

WKN · 25 Jul 2012 at 21:34

RomanNose said:
Worst ever I am about to commit fraud thread ever.

He is VAT Registered and if the PC is for him that cant be fraud can it?

Like imb4tman Said..

[TW]Fox · 25 Jul 2012 at 21:35

CocaCola said:
He is VAT Registered and if the PC is for him that cant be fraud can it?

He says in his OP the PC isn't for his uncle.

RomanNose · 25 Jul 2012 at 21:36

CocaCola said:
He is VAT Registered and if the PC is for him that cant be fraud can it?

Like imb4tman Said..

It is if you are buying for personal use and not business.

tom_e · 25 Jul 2012 at 21:36

CocaCola said:
He is VAT Registered and if the PC is for him that cant be fraud can it?

Like imb4tman Said..

If it's for use within his business as said then it's fine, if you're expecting him to buy the parts for your own personal rig and claim the VAT back that's not fine.

WKN · 25 Jul 2012 at 21:38

tom_e said:
If it's for use within his business as said then it's fine, if you're expecting him to buy the parts for your own personal rig and claim the VAT back that's not fine.

That's answered my Question, Thanks

estebanrey · 25 Jul 2012 at 21:38

CocaCola said:
He is VAT Registered and if the PC is for him that cant be fraud can it?

Um yes, does he get his VAT taken off when he shops at Tescos?

Being VAT registered doesn't mean you are absolved from VAT ever. He can only claim it against business expenses.

Westyfield2 · 25 Jul 2012 at 21:41

What Fox said.

McGraw · 25 Jul 2012 at 21:52

If the pc is mixed business and personal use you have to declare the percentage and pay that percentage of the 20%

Kenai · 25 Jul 2012 at 21:56

You shouldn't be doing it but I suspect a rather large proportion of such people manage some rather 'creative' business expensing from time to time.

Wouldn't surprise me if it a raised a bit of suspicion though when he had a £1500 PC with a £400 graphics card on his books for 'doing the accounts'

Pudney · 25 Jul 2012 at 22:19

Kenai said:
You shouldn't be doing it but I suspect a rather large proportion of such people manage some rather 'creative' business expensing from time to time.

Wouldn't surprise me if it a raised a bit of suspicion though when he had a £1500 PC with a £400 graphics card on his books for 'doing the accounts'

That's only going to be a risk if there's a VAT inspection in the next year or two

Deleted member 77746 · 25 Jul 2012 at 23:26

RomanNose said:
Worst ever

RomanNose said:
I am about to

RomanNose said:
commit fraud

RomanNose said:
thread ever.