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How to account VAT which can't be claimed back.

LisaJeLisaJe Registered Posts: 10
Hi all,
the UK company has a storage in Lithuania. They are bying some small items etc. from Lithuanian company. The invoice is with 21% Lithuaninan VAT.
How should the UK company account this VAT? Is it GOGS as the goods the VAT is on are COGS. Or it is other expences?

Thank you xx

Comments

  • davealucasdavealucas LondonMAAT Posts: 82
    If you can't recover the VAT then it should just be included as part of the whole expense.
    LisaJe
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