Made some enquiries regarding a recent purchase of a Windows desktop PC for £2800 and the accountant told me that I cannot claim the VAT back on this item due to my Limited company being on the Flat VAT scheme.
The invoice was addressed to my company and I read on the HMRC website that you can claim VAT back for items provided that they are classed as Capital Assets and that they are over £2K in value on the invoice (which my desktop PC clearly is), there are other rules such as if the capital asset is going to be used up within a year then its not a a capital asset (eg printer ink). But its a desktop PC goddam it !! surely its going to be classed as a capital asset, I'm going to use it for work for my company !
Should I go back to my accountant and quiz this ? or does the accountant know something that I don't ?
The invoice was addressed to my company and I read on the HMRC website that you can claim VAT back for items provided that they are classed as Capital Assets and that they are over £2K in value on the invoice (which my desktop PC clearly is), there are other rules such as if the capital asset is going to be used up within a year then its not a a capital asset (eg printer ink). But its a desktop PC goddam it !! surely its going to be classed as a capital asset, I'm going to use it for work for my company !
Should I go back to my accountant and quiz this ? or does the accountant know something that I don't ?
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