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#1 |
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I was always under the impression that when a vehicle first registerred and sold brand new, the VAT is there in the price & is paid by the first owner...
Then when they come to sell the car, the vat was already paid back when it was new and there is no vat for the next buyer to pay. So how comes there's alot of vehicles (especially vans) popping up on autotrader with the price showing for example "2004 VW transporter £5000 +vat" for a vehicle which will have had the vat paid when it was new? Are they trying to pull a fast one on any unsuspecting customers or when it's a vehicle which has been used for business use which is then being sold to another business, is it just like any other goods/materials/services for a VAT registerred business?
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RIP Reeder 20/07/1988 - 21/03/2012 - You were awesome Cbf600, sv650, sv1000, gsxr 750 srad, KTM adventure 950, gsxr 750 k1, gsxr 750 srad, fazer 1000, zx9r ninja.. |
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#2 |
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It is just like any other goods or service.
The company who originally bought it will have claimed the VAT back on the original purchase of the van anyway. |
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#3 |
Noisy Git
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Not really it isn't
http://www.hmrc.gov.uk/vat/sectors/m...lling-cars.htm IMO discuss the all in price, how they account for the VAT whether that be on margin or in full is their problem, if you're buying privately.
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#4 |
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coolio cheers YC.. Reeder - I thought you were banned?
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RIP Reeder 20/07/1988 - 21/03/2012 - You were awesome Cbf600, sv650, sv1000, gsxr 750 srad, KTM adventure 950, gsxr 750 k1, gsxr 750 srad, fazer 1000, zx9r ninja.. |
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#5 | |
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#6 |
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indeed, it all depends on VAT being claimed back at time of purchase, some SH cars are VAT qualifying which means they were purchased by a company for company use with NO private use allowed within the rules of VAT reclaim, so if you could technically claim the VAT back on a car if you were also registering it to a business and not using it for personal use.
its v complicated when you get into the details. |
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#7 |
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it's not just on vehicles.
I bought some used bike spares a few years ago from DK's in the Midlands and was quoted a price without VAT then given the price with the VAT included. Also when I was getting some prices for car parts from a breakers yard the price had VAT added.
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#8 |
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I know of scrap yards that would quote prices over the phone and then add vat when you collected.
If the scrapyard bought the donor vehicle from joe public there is no vat reclaimable by the scrap yard against the purchase. However they must charge VAT against the sale. It makes businesses unpaid tax collectors. Not exactly fair, and punishable by fines if you get it wrong. When I was doing small contracts, it was totally unfair. as a very small trader I was not VAT registered and therefore anything I purchased and configured/sold on had the vat paid by me and I expected my customer to pay me the true price the work/parts had cost me. As I could not charge VAT my customers who were registered found me expensive compared to getting VAT registered sources to do the work.
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Not Grumpy, opinionated. Last edited by timwilky; 09-03-11 at 03:38 PM. |
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#9 |
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could you have registerred for VAT maybe?
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RIP Reeder 20/07/1988 - 21/03/2012 - You were awesome Cbf600, sv650, sv1000, gsxr 750 srad, KTM adventure 950, gsxr 750 k1, gsxr 750 srad, fazer 1000, zx9r ninja.. |
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#10 |
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Bits of stuff, so turn over of about £10,000 per annum. Not exactly worth registering a sideline business for VAT and drawing attention of the government to me. After about 2 years I realised there was not the trade to warrant going full time so packed it in
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