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Avoiding VAT on a used car...
Hello people...
Having used this site to get myself sorted and have a good credit history, Im now packing a healthy bank loan which is sat in my account ready to be splashed on a second hand car... My question is this...
What ways are available to avoid paying VAT on this purchase.
Im self employed and I know I know I can claim some monies back next year for the vehiclke being used for work etc... I think this is about 28%.
If I was VAT registered I would be able to claim the VAT back next April, trouble is I am not VAT registered, so besides asking friends who are.....
What options are available to me ??
All contributions are appreciated.
Having used this site to get myself sorted and have a good credit history, Im now packing a healthy bank loan which is sat in my account ready to be splashed on a second hand car... My question is this...
What ways are available to avoid paying VAT on this purchase.
Im self employed and I know I know I can claim some monies back next year for the vehiclke being used for work etc... I think this is about 28%.
If I was VAT registered I would be able to claim the VAT back next April, trouble is I am not VAT registered, so besides asking friends who are.....
What options are available to me ??
All contributions are appreciated.
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Comments
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Most second hand cars dont have VAT, only commercials, probably with the exception of ex-police carsHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Then this must be deemed a commercial vehicle.... as the salesman is asking for the price of the car plus VAT.0
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What vehicle is it?0
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Its a Land Rover.0
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Hello people...
Having used this site to get myself sorted and have a good credit history, Im now packing a healthy bank loan which is sat in my account ready to be splashed on a second hand car... My question is this...
What ways are available to avoid paying VAT on this purchase.
Im self employed and I know I know I can claim some monies back next year for the vehiclke being used for work etc... I think this is about 28%.
If I was VAT registered I would be able to claim the VAT back next April, trouble is I am not VAT registered, so besides asking friends who are.....
What options are available to me ??
All contributions are appreciated.
Although there is a VAT liability on used cars (on the difference between the purchase price and the selling price), by the dealer, it is not reclaimable by the purchaser, even if you are VAT registered. The only way to claim VAT back is by leasing, if you pay VAT on the lease contributions and can claim the VAT back on that.
(There are very, very few exceptions and even more rarely are they allowed)The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
Its a Land Rover van. Thanks for the swift responses by the way!0
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Is it something like this?
This?
Or something like this?The greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0 -
Its a defender 90 hard back. Yours middle one is similar but is a 110 hard back.0
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