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Posted Fri, 29 Dec 2023 11:21:20 GMT by Michael Peters
If I am on the flat rate scheme, am i able to reclaim input VAT on the cost of a new engine for my existing van? the cost is £2400 (inc vat) I am assuming that this is regarded as a capital expense rather than simply a repair.? Many thanks in advance
Posted Tue, 09 Jan 2024 11:52:06 GMT by HMRC Admin 2 Response
Hi,

You can find guidance here:

Flat Rate Scheme for small businesses (VAT Notice 733)

Thank you.

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