For accounting professionals
Vat invoice in director's name
Can anyone can advise is it allowed to claim vat from invoice in directors name? Or is have to be in company name?
Feels At Home
Registered, MAAT, AATQB
I was always told it needs to be in the company name. If the goods/services have been supplied to the company then there is no reason the supplier would be unable to change this.
However if the goods/services have been supplied to a director - I'd treat this as an expense to the directors loan account, as essentially its for them. This would then sit as a liability on their account.
MAAT, AATQB, FIAB, MICB PM.Dip.
Completed AAT in March 2020
Currently Studying: CIMA 'Operational Level'
Moderator, MAAT, AAT Licensed Accountant
Is the supply to the director or to the company?
FMAAT, AAT Licensed Accountant
When this happens with my clients, I contact them, and ask them to ask the supplier to re-do the invoice in the correct Company name, or they can't claim the VAT back. They usually comply as don't want to miss reclaiming the VAT. The paperwork is then straight.