What can you not claim VAT back on ?
You can not claim VAT on the following costs even if you are registered for VAT and make only taxable supplies:
- food, drink or other personal services for yourself, your agents or employees. The exception being to the extent that they are part of a taxable supply of services
- accommodation, other than qualifying accommodation in connection with attendance at a qualifying conference
- food, drink, accommodation or other entertainment services, where it forms all or part of the cost of providing advertising services
- entertainment
- passenger motor vehicles, excluding qualifying vehicles or vehicles used as stock in trade
- petrol, unless used as stock-in-trade
- contract work involving the handing over of goods when such goods are themselves not deductible
- Goods purchased by an accountable person that are subject to a margin scheme
- Expenditure incurred on the acquisition or development of immovable property forming part of the assets of a business, where the goods are to be used for a non-business purpose.
The take-away from the above is when you reviewing your vat return purchase figures make sure none of the above are being claimed.
Any queries on the above give me a call on 091 763817 or emial me at oliver@taxreturnhelp.ie