off setting repair bills against tax
Discussion
quick question to those who no this area .
i have recently carried out some work for a self employed contractor ( vat registerd ) on there work veicle as a favour to them .
it inatily started as cheap repair but as per uswell it ended up costing more .
all the parts i have purchased i have got in the owners name due to it been his company .
if i give all these recipts to him can he offset this against the tax even though am not a registerd company etc as there all in his name just doing it as a favour realy , am presuming garage bills for work veicles can be offset just wondering if parts can be .
sorry if a bit of a stupied question i no very little about what can and cant be done .
many thanks
i have recently carried out some work for a self employed contractor ( vat registerd ) on there work veicle as a favour to them .
it inatily started as cheap repair but as per uswell it ended up costing more .
all the parts i have purchased i have got in the owners name due to it been his company .
if i give all these recipts to him can he offset this against the tax even though am not a registerd company etc as there all in his name just doing it as a favour realy , am presuming garage bills for work veicles can be offset just wondering if parts can be .
sorry if a bit of a stupied question i no very little about what can and cant be done .
many thanks
Edited by wizzbilly on Saturday 9th May 00:10
Gassing Station | Business | Top of Page | What's New | My Stuff


