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On certain energy saying products the vat rate changes. I think some items are as little as 5%.
I currently get charged 20% on everything I purchase at the merchants regardless weather or not it is an energy saving item.
i then charge the customer 20% vat and that goes to hmrc.
just wanted to confirm that if I were to purchase say a boiler and room stat/trvs and they qualify for the lower rate of vat I could keep my quote the same say £2k and then invoice the customer showing the reduced rate of vat. Bear in mind I would have paid 20% at the merchants would I be better off?
I currently get charged 20% on everything I purchase at the merchants regardless weather or not it is an energy saving item.
i then charge the customer 20% vat and that goes to hmrc.
just wanted to confirm that if I were to purchase say a boiler and room stat/trvs and they qualify for the lower rate of vat I could keep my quote the same say £2k and then invoice the customer showing the reduced rate of vat. Bear in mind I would have paid 20% at the merchants would I be better off?