In other words, train travel is zero-rated for VAT. This means that no VAT is paid and so no VAT can be reclaimed from HMRC. It is worth remembering that “zero-rated” for VAT is not the same as being “exempt” from VAT. An invoice for a zero-rated item should still include the fact that VAT is charged at 0%.
The face value of your tickets should be accounted for by yourself, including declaring and paying any relevant VAT that may be due if you are VAT registered. As an event organiser, it is entirely your responsibility to report your income/turnover and VAT to the appropriate governing authority.
In other words, train travel is zero-rated for VAT. This means that no VAT is paid and so no VAT can be reclaimed from HMRC. It is worth remembering that “zero-rated” for VAT is not the same as being “exempt” from VAT.
The tax rules say that travel from home to a permanent work place is not an allowable expense for tax purposes. By contrast, travel from home to a temporary workplace is an allowable expense.
These fines are not considered to be a supply of goods or services, as they are not provided in exchange for payment. Instead, parking fines are considered to be a penalty for breaking parking regulations and are therefore exempt from VAT.
Travel on a train in the UK is "passenger transport", which is zero-rated (which means no VAT is charged) if the train has at least 10 seats, including those for the driver and crew.
In a business context, subsistence expenses refer to expenses incurred by an employee for food, drink, and accommodation away from the normal place of work. VAT can be reclaimed on subsistence expenses if the business pays the actual cost of the expense.
Why do you charge a booking fee? These fees go towards improving our products and services, so you can keep enjoying hassle-free travel by rail and coach. We keep a close eye on our fees to make sure we're always putting your money to the best use, as well as giving you the best value.
The standard rate of VAT increased to 20% on 4 January 2011 (from 17.5%). Some things are exempt from VAT , such as postage stamps, financial and property transactions. The VAT rate businesses charge depends on their goods and services. Check the rates of VAT on different goods and services.
VAT Rates. There are three rates of VAT in the UK: standard, reduced, and zero-rated. The standard rate is currently 20%, the reduced rate is 5%, and the zero rate is 0%.
Off-street parking is different and it is likely that VAT is added. In terms of claiming back the VAT from a motorist's point of view, you will know if the off-street parking area has applied VAT by looking at your parking ticket/receipt. If there is a VAT number on this, then you can claim back the VAT.
Unused stamps are exempt from VAT whether purchased from the post office or a retailer. To be exempt from VAT the stamps must be sold at face value or less and be valid to be used for postage.
According to HMRC, a workplace can only be considered temporary if you have worked there for less than 24 months. After this period, you can no longer reclaim expenses as you are considered a permanent employee of the company.
In brief, if you can claim the cost of your food and drink, these expenses will be a business tax deduction. Therefore, you can include business lunch expenses and meal costs as part of your business travel expenses: Within your company expenses, if you run your own contractor limited company.
An employer is well within their rights if they request you to use your own car for work purposes. Yet 'force' is a strong word. If, for whatever reason, you feel uncomfortable using your own car for business, make sure you raise it with your employer. Remember, you don't get it if you don't ask!
