disbursements

This tag is associated with 2 posts

Recharging Expenses and VAT

Posted by ⋅ ⋅ 2 Comments

Recharging expenses occurs when you ‘recharge’ your expenses to your customer eg travel fare or hotel bills.Note that recharges are not disbursements. If you are VAT-registered, there are VAT consequences to be aware of when processing recharges. Using three expenses: You were charged £100 + £20 VAT (for perhaps hotel accommodation); You were charged £30 … Continue reading →

Charging VAT on Expenses – Disbursements and Recharges

Posted by ⋅ ⋅ Leave a comment

For VAT purposes, Disbursements and Recharges are two ways of treating costs incurred on behalf of customers. DISBURSEMENTS Goods or services paid for on behalf of a customer but RECEIVED AND USED BY THE CUSTOMER can be treated as disbursements for VAT purposes. This essentially means that your role is limited to that of an … Continue reading →

Enter your email address to receive notifications of new posts by email.

Join 851 other subscribers
Follow Phoenix Debola on WordPress.com