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VAT Query

  • 15-05-2013 10:01am
    #1
    firemansam1
    Registered Users, Registered Users 2 Posts: 168 ✭✭


    Hi,

    Simple question about VAT charges on expenses.

    I have 2no receipts for my business(new business) which I'm not sure about the VAT on.

    One shows a total at the bottom but mentions no VAT etc. However the company have a VAT number shown. It's for an insurance policy that I purchased. Would there be VAT included in this total.

    Second one shows total at the bottom and 0 for VAT. This company also shows a VAT number. It's for membership of an organisation. Would there be VAT in this also.

    I know I could ring them, but I'd just like to know going forward.


Comments

  • #2
    smeharg
    Registered Users, Registered Users 2 Posts: 300 ✭✭smeharg


    You can only reclaim VAT on purchases for which you have a valid VAT invoice. A valid VAT invoice must show the VAT amount (among other things).

    There is no VAT on insurance.

    If the VAT amount is specifically shown as zero, then there must be zero VAT.


  • #3
    Fitz123
    Registered Users, Registered Users 2 Posts: 166 ✭✭Fitz123


    As smehard says insurance is regarded as an exempt service, so not VAT charged to you there.


    On the 2nd one, is the organisation Irish based or EU based ?


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