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lovebartonoxford
Level 1

VAT for UK Based Charity

Hello all,

 

I am the treasurer for a new charity that is based in the UK. We are small and will hopefully expand in the foreseeable future.

 

I have recently purchased a laptop and mobile phone through the charity for an employee who has just started.

 

The charity's capitalisation threshold (for when to capitalise) is £1000. Therefore this has been charged to the P&L as an office expense.

 

As the invoice has VAT I wanted to ask how I account for the VAT on QuickBooks? Also as a charity am I correct that we do not pay VAT and can claim back? If so do I need to register the charity as VAT registered? I am trying to establish whether it is worth registering for VAT with HMRC?

 

Thank you all in advance. Happy to clarify on any points further if required.

1 REPLY 1
Ashleigh1
QuickBooks Team

VAT for UK Based Charity

 Hello Lovebartonoxford, thanks for posting on the Community page, we would advise you speak to an accountant on the best way to enter this into the account for you.

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