PPRuNe Forums - View Single Post - Any Wannabes out there with Limited Companies?
Old 7th Nov 2001, 16:00
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Quidditch Captain
 
Join Date: Sep 2001
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Regarding VAT reclaim, the regulations state that VAT can only be reclaimed on purchases which are directly related to the incoming revenue on which VAT is charged.
In other words if you have a company providing IT services (such as m/boy), then purchases on flying training are not directly related (ie IT/flying), so no VAT reclaim is allowed.
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