This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Net VAT paid - tax expense?

ataxquestion
Posts:1
Joined:Fri Jan 28, 2022 8:12 pm
Net VAT paid - tax expense?

Postby ataxquestion » Fri Jan 28, 2022 8:16 pm

Hello.

I’m a sole trader dealing in used/ second hand equipment. VAT registered and using the global margin scheme.

I pay VAT quarterly and pay fair amount.

When filling in my self assessment tax return, can net VAT paid be claimed as an expense?

Thank you.

Return to “Income Tax”