Simple Question about VAT on tax return ?

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  • Simple Question about VAT on tax return ?

    Hi all,

    Really simple question that I'm you all know but its my 1st time filling in a tax return for my BTL property.

    When I enter the expenses for the year. Do i enter them net or gross of VAT ?

    i.e repair bill for £100 + VAT, would i enter this £100 or £115 ?

    thanks

  • #2
    Originally posted by schoey123 View Post
    Hi all,

    Really simple question that I'm you all know but its my 1st time filling in a tax return for my BTL property.

    When I enter the expenses for the year. Do i enter them net or gross of VAT ?

    i.e repair bill for £100 + VAT, would i enter this £100 or £115 ?

    thanks
    Generally, VAT is not chargeable on rented property and so is not reoverable as an input either. So you would normally quote the gross rather than the net figures. But you might want to ask this is the tax matters forum - I think you have a better chance of getting a sensible answer there.

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    • #3
      Rent is a VAT exempt supply so any VAT you incur (repairs, service charges, management fees) are not recoverable in terms of VAT registration. They are recoverable against the income tax though (eg quote the gross figure as the cost).
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