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Petrol powdered machinery VAT Returns

  • 14-10-2014 6:47pm
    #1
    ihatewinter
    Registered Users, Registered Users 2 Posts: 335 ✭✭


    Hey does anyone know if you can use handheld machinery like a hedge trimmer and grass strimmer for farm profit and loss accounts and for vat purposes. I can prove I use them, as I cut the furze on steep slopes where I can't spray. Thanks


Comments

  • #2
    ganmo
    Registered Users, Registered Users 2 Posts: 7,748 ✭✭✭ganmo


    I would say yes, chainsaws etc too

    I was wondering what powdered petrol is :p


  • #3
    ihatewinter
    Registered Users, Registered Users 2 Posts: 335 ✭✭ihatewinter


    Thanks for that. I must be using powdered petrol with the atrocious spelling


  • #4
    Gard1
    Registered Users, Registered Users 2 Posts: 90 ✭✭Gard1


    OP FYI You cant reclaim vat on petrol ...Just Diesel but gross amount is allowable as a deduction against profits


  • #5
    lakill Farm
    Registered Users, Registered Users 2 Posts: 4,735 ✭✭✭lakill Farm


    you would need to be fully vat registered and not VAT 58

    you cant claim the VAT on petrol but can on engine , chain and 2 stroke oil

    the net price of the machine(if vat is reclaimed) is a capital purchase and will be available for capital allowance at 12.5% P.A.


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