Fyrir byggingarverktaka
Fustle fyrir byggingarverktaka
Háir reikningar, efni keypt fyrir verkkaupa, verkfæri og vinnubíll. Fustle heldur reikningum, kvittunum og launatölum á einum stað svo VSK-skýrslan og skattframtalið byrji á gögnum, ekki í skókassa.
The challenge
Why contractors choose Fustle
What makes construction different
- ×Invoice totals often run from 500,000 to over 2,000,000 ISK a month, so VAT registration is a given
- ×Many deductible costs: tools, vehicle, materials, safety gear, insurance
- ×Several clients and sites at the same time, often with retentions and staged payments
- ×Input VAT on materials has to be recorded per receipt to be recovered
- ×A missed VAT period at this turnover is expensive
How Fustle helps
- ✓Invoices in an unbroken sequence with VAT shown per line, in ISK or with a foreign currency reference
- ✓Receipts photographed and read with AI help; you confirm the expense category and the input VAT
- ✓Vehicle costs recorded against the business-use share for the RSK 4.03 statement
- ✓Payroll figures calculated on the fixed or flexible plan with the year's brackets and contributions
- ✓Filing duties listed month by month. Sending to Skatturinn stays manual until a tax connection exists
What deductions are worth
Illustration: a contractor with 1,200,000 ISK of monthly turnover and 400,000 ISK of documented business costs
Documented costs
400.000 kr
tools 80k + vehicle share 120k + materials 200k
Lower taxable profit
126–185k kr
at the 2026 marginal rates of 31.49–46.29%
Input VAT recovered
24%
of VAT-bearing costs, on the VAT return
The deduction only holds with a receipt for every cost and a mileage log for the vehicle. That is what Fustle is for.
How it works
Three steps — no paperwork
Record the job and invoice it
Hours or a fixed price, materials as separate lines, VAT per line. Send as PDF or e-invoice.
Add receipts as you go
Photograph the receipt; the amount, VAT and category are pre-filled for you to confirm.
Get paid and see the payroll figures
Customers pay your own account on Invoicing and fixed Payroll. Payroll calculates the salary, contributions and withholding for the month.
Questions from construction contractors
Can I deduct tools?
Yes. Tools used in the business are deductible business costs with a receipt. Larger machinery above Skatturinn's threshold is capitalised and depreciated over several years.
What about materials I buy for a client?
Deductible as a cost, and if you are VAT-registered you deduct the input VAT on the VAT return. Invoice the materials on to the client with VAT.
Do I need VAT registration?
Almost certainly at this turnover, since registration is mandatory above 2,000,000 ISK in 12 months. You register yourself with Skatturinn; Fustle then shows VAT per line and prepares the VAT summary for the period.
How does vehicle deduction work for a work van?
Business-use share × total vehicle costs, shown on the RSK 4.03 statement with the tax return, backed by a mileage log. See the vehicle costs guide.
Useful guides
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