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Claiming for mobile usage as a sole trader

  • 24-08-2013 7:55pm
    #1
    Bizzman
    Registered Users, Registered Users 2 Posts: 31 ✭


    I'm a sole trader and use my mobile phone a lot for work purposes. The mobile account is in my company name and comes out of my company account. For example if my monthly bill is €81.68 (€66.41 + VAT), can I actually offset the full amount against my VAT on sales or is it just the VAT I can claim back (e.g. - €15.27)? Thanks for your help.


Comments

  • #2
    SK76
    Closed Accounts Posts: 66 ✭✭SK76


    The vat element can be set against vat on sales. The net element is an expense which will reduce profits and lower income tax. If u got a tax audit they may say that an element relates to private usage. If u use it partly for private use, then may be advisable not to claim 20% for example in vat returns and as an expense


  • #3
    Bizzman
    Registered Users, Registered Users 2 Posts: 31 ✭Bizzman


    Thank you for your response. I appreciate it.


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