VAT Claimable ?

crispy
crispy Trusted RegularSouthamptonRegistered Posts: 456
Hello,

Company where I work has recently held a stand at an air show where there was made available free food/drinks/stationery (pens/rulers etc) and a prize for a raffle draw.

I have received the relevant purchase invoices/receipts for all the items and was wondering on what expenses vat would be claimable or not - and whether any of these expenses should be classed as entertaining customers / or something else ?

Thanks for any feedback

Comments

  • Gem7321
    Gem7321 Experienced Mentor DevonMAAT, AAT Licensed Accountant Posts: 1,438
    If the stationery had advertising you can put this down to advertising and claim the VAT, unfortunately the food/drink will be client entertaining.
  • crispy
    crispy Trusted Regular SouthamptonRegistered Posts: 456
    Hi,

    Thank you for your reply.

    The stationery all had our company logo on so will charge to Advertising and claim input tax.

    How about the prize for the free draw (which was a games console) do you know if the VAT should be reclaimed for this ?

    Sorry for repeat questions, my tax knowledge is only basic.

    Thanks again
  • T.C.
    T.C. Experienced Mentor Registered, Tutor Posts: 1,448
    Not sure if it would be enough to put a large sticker on "kindly donated by..."???? Advertising...not sure!
  • Gem7321
    Gem7321 Experienced Mentor DevonMAAT, AAT Licensed Accountant Posts: 1,438
    It's what I was taught!
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