Question:
I have just bought a van for the business but registered to me personally as the business is a new start up. I pay the instalments from my personal bank account and then reimburse myself from business account. I pay for petrol using the business debit card. Can I claim back VAT on the fuel and/or complete P11D?
Arthur Weller replies:
Assuming that all your mileage in the van is for business, you can reclaim all the VAT on the fuel as input VAT, just like input VAT on any other legitimate business expense, claimed on the VAT return. If you use the van partially for personal use (e.g. 20%), then you can claim back 80% of the VAT.
