The VAT notice mentions that:

When you are claiming input tax on an employee’s expenses and that individual provides a combined value of more than one purchase, you do not have to record each purchase separately.  You can record the total value and the total input tax allowable. 

We would suggest analysing the business expenses in a similar way to the petty cash transactions, except here there is no monitory limit required for expenses.

Content image: /uploads/team/unknown.jpg Phil Swan
Phil Swan
Partner, Veterinary and Pharmacy
View profile
Content image: /uploads/team/unknown.jpg Mark Harwood
Mark Harwood
Partner, Veterinary
View profile
Content image: /uploads/team/unknown.jpg Suzanne Headington
Suzanne Headington
Partner, Veterinary
View profile

Sign up to receive our business updates

Regular updates, using our expert commentary to provide you with information about our services, events and topical premium business news.