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Search results: 3 article(s) found in topic: Business use - keyword: Assets

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Use of company assets for a non-business use

Your business can purchase an asset that has some private use and is transferred to a non-business use once you’ve finished with it. But what is the VAT treatment? More...


Using your hobby to promote your business

You’ve heard that you can claim back the VAT on some desirable assets, such as yachts and racehorses that you use for hobby purposes. Surely there must be a catch? More...


The risks of change of use

If you buy an asset intending to use it for taxable purposes but then change your mind without using it, this can create an unforeseen VAT liability. How can you avoid this trap? More...
Last updated: 12.08.2020

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