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VAT-pre regt.

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › VAT-pre regt.

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Tax Tutor.
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  • August 31, 2020 at 4:18 pm #582891
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    Sir hire of office-equipment has been treated as service in Kaplan and for pre- registration Input VAT recovery upto 6months have been recovered.

    But in BPP hire of photo-copier has been been treated as an asset held under inventory and input VAT for 4 years has been claimed.

    So am confused now whether hire of office equipment/photocopier is deemed as a service or good?

    September 4, 2020 at 8:07 am #583338
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    You will have to show me the exact words used in each question – but if you are just renting / hiring the use of an asset = not buying it on hire purchase, then it is an expense not an asset and follow the 6 month rule

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