Business Unit Category
Add an email signature
Coding Restrictions
Create new Business Unit
Custom Fields on Line Items
Customised labels
Date formating
Default delivery address
Division Management
Editing Email Templates
How to hide cost codes
Invoice email forwarding – Microsoft 365
SMTP & Email Sending
T&C on your PO Template
Invoice Processing Help Category
Auto reject supplier invoices
Auto rejecting of invoices issue
Finding an order or invoice
How to create a credit note
Invoice email forwarding – Microsoft 365
Invoice export colours
Invoice Inbox
Invoice List View
Invoice matching
Invoice Processing Explained
Month end cut offs
Negative Order Balance
Setting up Autopilot
Supplier Matching
Waiting for a GRN
Purchase Orders Category
Adding a product to an order
Adding documents to an order
Bulk importing orders
Close Orders Automatically
Closing an order
Copy PO to Buyer
Creating a Purchase Order
Deleting a PO
Duplicate Order Prevention
Editing an order
Finding an order or invoice
GRN an order
Grouped Purchase Orders
Import Line Items
Negative Order Balance
PO Template Editing
Purchase Order Numbering
Purchase Order PDF
Purchase Order Prefix
Purchase Requisition Number
Quick Create a Purchase Order
Send PO to Supplier
Supplier order acceptance
What is a purchase order?
Use the Capital Goods Scheme if you reclaim VAT on capital items like expensive land, property or computer equipment.
If you acquire or create an expensive capital asset, or already have one when you register for VAT, you may have to adjust the amount of VAT you reclaim. You do this by using the Capital Goods Scheme, which allows you to spread the initial VAT claimed over a number of years. You can reclaim more if the proportion of your taxable supplies increases, you’ll have to repay some if it decreases. Taxable supplies are the sales that you make which are standard, reduced or zero-rated.
The assets that are included in the scheme are:
If your asset is used only for making taxable supplies, you can reclaim all of the VAT you’ve paid. If you use the asset partly for business and partly for making exempt or non-business supplies, you can only reclaim a proportion. You do this by using your partial exemption and non-business calculations.
You’ll have to use the Capital Goods Scheme if you spend £250,000 (excluding VAT) or more on:
Civil engineering work includes things like roads, bridges, golf courses, running tracks and the installation of pipes for connecting to mains services.
The scheme only applies to individual computers, or items of computer equipment, that cost £50,000 (excluding VAT) or more. It doesn’t cover something like a network where the total cost of the server and all the computers and printers is £50,000 or more but each individual item is less than £50,000. Nor does it cover computerised equipment (for example, a computerised telephone exchange or computer-controlled blast furnace) or computer software.
The scheme applies if you spend £50,000 or more (excluding VAT) on purchasing, constructing, refurbishing, fitting out, altering or extending an aircraft, ship, boat or other vessel.
Certain changes to your business during a Capital Goods Scheme period will impact on the treatment of your capital assets. These changes include:
