VAT - 01.05.2014

Is your insurance company diddling you out of VAT?

An employee has written off his company car. Its insurance value is £8,000. The claim form asks if you’re VAT registered; you are, so you tick the “yes” box. You’ve just lost £1,300! Why and what steps can you take to avoid this trap?

 

You don't have a subscription to this newsletter.

Tips & Advice Tax

Your fortnightly guide to practical tax savings

Money-back guarantee on paid subscriptions