Backdating vat on fuel
What are the most common errors on VAT Returns?
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Here's the clever bit, when you submit your expense claim with Xero you can get Xero to do these backdating vat on fuel calculations for you. All you link to do is get the advisory fuel rate from HMRC and make sure that it is bsckdating correct go here the rate for when the mileage was completed, not when claimed.
Xero has calculated the VAT reclaim portion without the need for complicated calculations with the added bonus that now Xero files the VAT return from within. Claiming mileage as above will make sure that the VAT appears on the VAT return itself: Xero saves the day again, making accounting easier and simple.
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Hi AllI was told a long time ago that it was not worth the aggravation claiming the VAT on fuel (I had a car and van registered to the Ltd compnay. How do I Reclaim VAT on Fuel? If you’re looking for insights on VAT reclaim, Mileage and HMRC compliance when it comes to employee expenses, look no further. HMRC says you can reclaim % of the VAT incurred on fuel paid for business purposes. You can generally reclaim VAT on goods you bought up to 4 years before have completely used up before you registered for VAT (e.g. petrol.
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