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bigduckontax, Accountant
Category: Tax
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Have just instaled a biomass boiler can i claim the v.a.t.

Customer Question

have just instaled a biomass boiler can i claim the v.a.t.refund
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
If it is a business expense then yes you can. If it is a private matter than you cannot. By the way, remember that for Income/Corporation Tax purposes such expenditure would not be allowed as an expense, but would pass through the Capital Allowance (CA) procedure. Having said that, CA relief is currently at 100% so in accounting terms the answer is the proverbial lemon. Our club room needed a new roof. Our Honorary Auditor was a Price Waterhouse man so ran it pro bono across PW's tax experts who gave an opinion that as the club room had always had a roof its replacement was a revenue as opposed to a capital item. The Inland Revenue did not bat an eyelid. The matter is merely provided for information as with CAs the way they are up to December the effect is the same, 100% relief. I do hope that my reply has been of assistance to you.