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Probably a rather silly question, but can you also list vAT payments as expenses on your tax return?
Probably a rather silly question, but can you also list vAT payments as expenses on your tax return?
No, but the question makes perfect sense! Anyway, just pay attention to your vAT status :)
Subject to VAT:
Do you mean paying your VAT balance when you file your vAT return? Not in the costs, it doesn't count. VAT is really a layer on top of turnover & costs, so it doesn't count as an expense.
VAT exempted:
then you mean VAT that you pay to the supplier and cannot recover, which will then end up on your tax return as an expense.
Still, there is an important nuance!
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.