I’m buying a car via my limited company.
As it is available for personal use the VAT is not Claimable - as I understand
I’m unclear how I should enter the purchase order.
I’ve initially just entered the subtotal (excl VAT), VAT (at 20%) and Total including VAT. This matches the Invoice from the supplier.
I want to ensure QF doesn’t automatically claim the VAT in my next return - do I amend the PO so it is VAT Exempt and just enter the Total amount, or do I do something when I do the VAT Return?
Any guidance appreciated…