Vat on Client Gifts of Alcolhol
What is the rule for reclaiming input vat on giving handover gifts of bottles of champagne when selling cars to the public. They are less than £50, but don't include any advertising or corporate logos etc.
As usual the Inland Revenue website is pretty useless, and I am getting conflicting messages from various other websites.
I believe that vat on alcohol for business entertaining cannot be reclaimed, but are gifts different?
Some are saying that alcohol is specifically excluded and you can't reclaim Vat, and some say that there is no exclusion.
Please what is rule and can you point to the specific bit of legislation.
- P60 from HMRC Basic Paye Tools 4,095 16
- P&L Treatment of property assets 54 2
- Where do Balance Sheet Gains get recognised in CT600? 733 36
- CGT on spouse's death 261 11
- Tax relief for networking day out? 457 12
- VAT on non-denominated postage 57 2
- Starting Again 262 11
- Is cloud accounting software all just pie in the sky 627 19
- CT101 Completion 127 1
- Non resident pension withdrawal 146 2
- Mortgage Adviser's request 276 6
- P11D Software 776 9
- PAYE Dashboard inconsistency 201 4
- Why can't I paste into AccountingWeb? 269 5
- Can shareholders lend to their company at interest? 394 10
- Payroll software 188 4
- Company UTR numbers 306 6
- Summer house for business only 154 1
- Transfer of property to Limited Company 129 1
- New starter not showing on RTI FPS submission (MoneySoft payroll) 167 3
- Construction CIS LLP Company 596
- Services via intermediaries and new HMRC reporting requirements 581
- LIVE: Budget aftermath webinar 381
- Pensions Regulator 347
- NIC contribution on unremitted income 284
- Using the correct forms 262
- SA penalty proposals 251
- RTI - duplicate employee record 241
- Accelerated payment notices 229
- How hard is it to reduce a code? 216