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Good news! You can claim back the 14% input tax on your business travel accommodation

by , 16 September 2014
If travel is an important part of your business, the four common business travel expenses you're likely to deal with are: Air travel, car rental, meals and refreshments and accommodation.

For the purposes on this article, we will focus on accommodation because it's often overlooked. This is quite unfortunate because it means you could be missing out on input tax claims.

You see, when it comes to your business travel accommodation, you can claim back the 14% input tax charged.

Read on to find out more about this so you can take advantage and boost your company's cash flow.


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Take advantage of business travel accommodation and claim back the 14% input tax charged


According to the Practical Vat Loose Leaf Service, Vat is charged at 14% on accommodation if the establishment is a Vat vendor.

The good news is most hotels, commercial accommodation facilities and many guesthouses and bed and breakfasts are Vat vendors.

So if you or your employee travel for business and you spend the night in any of these establishments, you can claim back the 14% input tax charged on business travel accommodation.

Just remember that if you want to claim input tax on accommodation, you must have valid tax invoices to support your claim.

We're not done with business travel accommodation.

Here are two useful tips you can use when it comes to claiming input tax on business travel accommodation
 

Tip #1: If in doubt, query the establishment's vendor status when you make your reservation, especially if it's a small bed and breakfast or home business.

Tip #2: Try to limit your accommodation to registered Vat vendors to take advantage of the input tax claim and wrestle back every possible cent from the taxman!

There you have it: You can claim back the 14% input tax on your business travel accommodation. Take advantage of this and boost your company's cash flow.

PS. Here are 34 Input tax savings you could be missing out on…

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