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September 6, 2023
Question

I am purchasing a van on business lease it’s for business use only so wanting to claim 100% vat on this. I just wondered how I go about claiming back the vat?

  • September 6, 2023
  • 1 reply
  • 0 views
On the paperwork the vat is £7500 can I claim that full amount straight back or is it a case of claiming 20% on the deposit and monthly payments?

1 reply

Level 14
September 6, 2023

 Hello Rscpropertyservi, thanks for posting on the Community page, If you have paid the vat upfront already then you can just enter the full amount now rather than doing it monthly. If you have a look at this help article Adding a VAT-only or 100% VAT transaction in QuickBooks Online it has all the steps you need however we would advise that you consult with your accountant or bookkeeper about this before you do anything.