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Mo Tax Expert
Mo Tax Expert, Accountant
Category: Tax
Satisfied Customers: 640
Experience:  Accounting and Tax Expert
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Am buying a crane for £130,00 plus VAT. Can I claim back the

Customer Question

Am buying a crane for £130,00 plus VAT. Can I claim back the £26,000 VAT on my next quarters return?
JA: Have you talked to a tax professional about this?
Customer: No
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Customer: Ok. I'm VAT registered
Submitted: 16 days ago.
Category: Tax
Expert:  Mo Tax Expert replied 16 days ago.

Hi and welcome to JustAnswer. I’m Mo Barrie, Qualified Accountant and Tax Expert. I’m currently reviewing your question and will respond to you shortly.

Thank you for your patience.

Expert:  Mo Tax Expert replied 16 days ago.

Are you vat registered?

What is your line of work?

Customer: replied 16 days ago.
Am VAT registered. Own and run a boatyard.
Expert:  Mo Tax Expert replied 16 days ago.

Will the crane be used for your business activities?

Expert:  Mo Tax Expert replied 16 days ago.

Also, is the purchase finance or outright purchase?

Expert:  Mo Tax Expert replied 15 days ago.

Hi,

I haven't heard back from you.

Have I answered your question completely?

Expert:  Mo Tax Expert replied 14 days ago.

The General rule is that you can only claim VAT back on construction equipment that is used wholly and exclusively for your business.