Month: September 2021

Motoring expenses part 1 – recovering VAT on car purchases

Company car purchases fall under specific VAT rules which determine whether the liability can be reclaimed and strict business use only limits. Sarah Kay, technical writer, Croner-i explains the rules When a business purchases, imports or makes and intra-EU acquisition of a car an automatic restriction on input tax recovery may apply, ie, any input tax incurred is irrecoverable regardless of whether or not the car is used by the business to make taxable supplies.
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HMRC set to take action on £7bn furlough fraud

Mid-sized businesses should prepare for a flood of letters from HMRC as furlough draws to a close and the government looks to recoup a suspected £7bn of fraudulent Coronavirus Job Retention Scheme (CJRS) claims HMRC is ramping up activity now that its taxpayer protection taskforce is up to strength, following a recruitment drive to hire more than 1,200 investigators since March.
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