Social club spending £60k on refurbishment can it claim all Vat back? exempt income low
Devon boy
Replies (1)
Please login or register to join the discussion.
Way too little detail...
but if your exempt income is less than £7,500 per year and the input tax associated with the exempt acitivites are less than half your total input tax then you should be able to reclaim all of the VAT on the refurbishment.
What income does a social club have that is exempt?. Insurance or something?.
I'm assuming all other icome is taxable (ie, VAT is charged for room rental, bar takings, catering, etc). If not, then a partial exemption may be required.