fireball
New member
Technically correct ...
When you pay someone (usually a company but not always) a price INCLUSIVE of VAT then the VAT element is paid to the government.
If "you" are VAT registered and the object can have VAT reclaimed on it then you can reclaim the VAT element from the purchase invoice (ie the VAT you paid to the vendor who passed it to the government)
The "original VAT Invoice" just shows that the manufacturer charged VAT on the sale of the original boat. VAT was charged on that boat and paid over - but doesn't prove that it wasn't reclaimed.
When you pay someone (usually a company but not always) a price INCLUSIVE of VAT then the VAT element is paid to the government.
If "you" are VAT registered and the object can have VAT reclaimed on it then you can reclaim the VAT element from the purchase invoice (ie the VAT you paid to the vendor who passed it to the government)
The "original VAT Invoice" just shows that the manufacturer charged VAT on the sale of the original boat. VAT was charged on that boat and paid over - but doesn't prove that it wasn't reclaimed.