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.
- Buy Samsung Galaxy Note 5 545 11
- New LLP, basis of assessment and which boxes to complete? 19 1
- property capital gains 229 2
- Transferring DLA between Directors 211 1
- Private doctors - Ltd company vs partnership 1,201 13
- Tips on meals 239 2
- Rental losses on jointly owned property 209 3
- Personal Tax 765 13
- Overpaid In Employers NI - RTI EYU for hundreds of employees 256 2
- Stumped - IHT 221 2
- Leaving the VAT FRS Scheme or trying to stay as long as possible? 424 6
- No PAYE Registration but need auto enrolment 486 11
- HMRC now overriding SA bank repayment details on tax returns 1,296 33
- Credit management tools 173 1
- Write an article on latest tax changes for landlords. 788 20
- Incorporate to utilise dividend allowance next year? 437 7
- CGT and primary residence 204 1
- Marriage Allowance 308 3
- S455 and February year ends 361 7
- HMRC having technical difficulties 914 18