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VAT on fuel bought by ltd company

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Ltd company director is using private car for business and buys diesel on company's account. Company is not paying fuel scale charge.

For the company to claim VAT on purchased, through its accounts, fuel we will need a detailed business mileage log, correct? Once the business  mileage has been established, how do we calculate the VAT? Using the AFR rates?

Also would car hire be treated as a business car?

Replies (6)

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By Accountant A
30th Sep 2019 21:15

Hi Anonymous. Why are you posting anonymously?

I would definitely suggest that you consult an accountant.

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By ireallyshouldknowthisbut
01st Oct 2019 09:18

If you are the business owner, speak to your accountant.

If you are a bookkeeper, get the accountant who does the year end to look at this with you rather than pretending you know what you are doing to your client/boss.

If you are the accountant, i feel very sorry indeed for your clients.

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By Accountant A
01st Oct 2019 10:55

PS Editing questions after posting is also an irritating habit.

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Replying to Accountant A:
By Tax Dragon
01st Oct 2019 11:14

It's not even the same question now, is it?

Sift has to stop this happening. It's not funny anymore.

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By LadySussex
01st Oct 2019 11:28

Get an accountant!

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By Counting numbers
01st Oct 2019 14:50

It is never advisable to wing it in business. Get some professional advice.

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