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sir
why VAT on entertainment overseas customers is deductible but not the case for UK customers?and again why input Vat on
_ Repainting the exterior of the company’s office building is deductible
-Extending the office building in order to create a new reception area is deductible
ButRepainting the exterior of the company’s office building is allowable
Extending the office building in order to create a new reception area is not allowable in adjusted trading profit?Regarding entertaining expenses and the recovery of VAT it is not a question of “why” – it is simply a rule which like thousands of others will say this is how you deal with an issue!
Therefore a business can recover most input VAT but there are a few examples of irrecoverable VAT.
Input VAT is recoverable on most business expenditure whether revenue or capital in nature, whereas in the adjustment of trading profit only revenue expenditure is allowable – this is a separate rule for a separate tax!
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