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A wall collapsed at a factory that produces walling products. It was agreed that the company's insurance would cover the claim and it instructed the company to organise the repair using its preferred contractors.
As part of the repair, the company needed to use some of its own products and labour, for which the insurance company had agreed re-imbursement. No charge was made to the contractor for these items.
A wall collapsed at a factory that produces walling products. It was agreed that the company's insurance would cover the claim and it instructed the company to organise the repair using its preferred contractors.
As part of the repair the company needed to use some of its own products and labour for which the insurance company had agreed re-imbursement. No charge was made to the contractor for these items.
My question is in claiming the money for these items from the insurer should the company include an element for VAT in effect issuing an invoice for the items or is it simply a re-imbursement of an in-house cost?
Official advice is that as we are receiving consideration for the items we should treat it as a sale but I am not so sure!
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