Reclaiming VAT without a VAT No?

farmers101

Heard that it is possible to reclaim Vat without having a vat no if it is to do with your farm>

What does this incl??
Contractors bill eg digger dumper etc??
fecing??
reseeding?
drainage?
what else?

any help much appreciated.

The Letheram

Any capital spenf. Roadways and sheds are two obvious ones you missed.

Timmaay

I'm going to hire a self drive digger over the next week or so for afew bits and bobs around the farm (including a new section of roadway, ie capital infrastructure). I assume I can put the hire of that down as capital, and claim back the 23% vat on it?

Feckthis

Timmaay wrote: »

I'm going to hire a self drive digger over the next week or so for afew bits and bobs around the farm (including a new section of roadway, ie capital infrastructure). I assume I can put the hire of that down as capital, and claim back the 23% vat on it?

Could you claim back vat on hedge cutting?

skoger

No. You can't claim on maintenance.

lakill Farm

Timmaay wrote: »

I'm going to hire a self drive digger over the next week or so for afew bits and bobs around the farm (including a new section of roadway, ie capital infrastructure). I assume I can put the hire of that down as capital, and claim back the 23% vat on it?

maybe claim it pro rata

take before and after pics of the new roadway

einn32

Feckthis wrote:

Could you claim back vat on hedge cutting?

Could you not claim it back under fencing?

Deepsouthwest

einn32 wrote: »

Could you not claim it back under fencing?

I doubt it. They're getting sticky enough. I sent in a receipt for two 1000L tanks last yr, they rang to ask what were the tanks being used for. One was for green diesel, the other for holding water for a wash down pump. They'd only pay the vat on the water tank, as diesel (or the tank it's stored in) is not vat refundable.

lakill Farm

Deepsouthwest wrote: »

I doubt it. They're getting sticky enough. I sent in a receipt for two 1000L tanks last yr, they rang to ask what were the tanks being used for. One was for green diesel, the other for holding water for a wash down pump. They'd only pay the vat on the water tank, as diesel (or the tank it's stored in) is not vat refundable.

surprised you managed to buy a IBC tank and get a vat receipt.

But totally agree. Very stickie at the moment

Deepsouthwest

lakill Farm wrote: »

surprised you managed to buy a IBC tank and get a vat receipt.

But totally agree. Very stickie at the moment

Not ibc tanks but proper Carbery fuel tanks. Had I known I might've sent the receipts in seperate and said they were both water tanks!

bogman_bass

do you have to send origionals or will copies do?

lakill Farm

bogman_bass wrote: »

do you have to send origionals or will copies do?

Must be orginials

always make a photocopy, takes about 4 weeks to get the money and the invoices back

einn32

Deepsouthwest wrote: »

I doubt it. They're getting sticky enough. I sent in a receipt for two 1000L tanks last yr, they rang to ask what were the tanks being used for. One was for green diesel, the other for holding water for a wash down pump. They'd only pay the vat on the water tank, as diesel (or the tank it's stored in) is not vat refundable.

We claimed back VAT on saw work around the entire farm hedgerows last year.

jd06

farmers101 wrote: »

Heard that it is possible to reclaim Vat without having a vat no if it is to do with your farm>

What does this incl??
Contractors bill eg digger dumper etc??
fecing??
reseeding?
drainage?
what else?

any help much appreciated.

can you claim on reseeding?

just do it

jd06 wrote: »

can you claim on reseeding?

No

just do it

Anything you reclaim VAT on has to be written down over 8 years so if you factor in interest the benefit is nominal. There was a thread on this a year or two ago.

TitianGerm

I think you fill in a Vat 58 form. It's to claim a refund for non registered farmers.
I believe you can claim the vat back on capital expenditure, I.e building a new shed, drainage works and fencing.
Maybe give your accountant a ring and they could tell you quick enough.

Feckthis

just do it wrote: »

Anything you reclaim VAT on has to be written down over 8 years so if you factor in interest the benefit is nominal. There was a thread on this a year or two ago.

So what's the advice? To be VAT registered or not?

just do it

Feckthis wrote: »

So what's the advice? To be VAT registered or not?

That applies to non-VAT registered. Being VAT registered is completely different.

frazzledhome

Feckthis wrote: »

So what's the advice? To be VAT registered or not?

Depends in what makes up most if your income. If its Sfp and your buying lots of spray and machines it may make sense. If you're in dairy and its from stock sales and your main inputs are feed and fert I'd say not.

Depends on your setup.

Is it always wise to reclaim vat? If you're in the high tax band would you be better off to iffset the whole cost instead if claiming 23.5%?

stretch film

frazzledhome wrote: »

Depends in what makes up most if your income. If its Sfp and your buying lots of spray and machines it may make sense. If you're in dairy and its from stock sales and your main inputs are feed and fert I'd say not.

Depends on your setup.

Is it always wise to reclaim vat? If you're in the high tax band would you be better off to iffset the whole cost instead if claiming 23.5%?

Can we get a comment from lakill on this please

barneystinson

Deepsouthwest wrote: »

Not ibc tanks but proper Carbery fuel tanks. Had I known I might've sent the receipts in seperate and said they were both water tanks!

Which would be fraud...

lakill Farm

stretch film wrote: »

Can we get a comment from lakill on this please

On the been vat registered its all down to an individual farm and circumstances and off farm activity.

ie have clients who farm in the spouces name as they are vat registered in like a trade

other farmers vat reg as they are mainly tillage and sprays are 23% and updates machinery regulary

Have a few diary and few beef farms registered.


Its a bit like setting up a Limited company to farm in. No blanket answer is correct. Its a decision between the farmer and the accountant once the accountant actually knows your farming practice


Now on the claiming vat58 - most claim it back because of cashflow and well in normal economic situations €1 today is not worth €1 in 8 years time.

Anyone with a question who wants to ask in private just send a PM

Deepsouthwest

barneystinson wrote: »

Which would be fraud...

Yes officer!