company car
blades
Registered Posts: 24 New contributor 🐸
Can someone please help. My company is part exchanging the company car but the one they are purchasing is being bought on a deal thats called passport. You put a maximum 30% deposit down then pay 36 monthly installments. At the end of this you can buy the vehicle for the agreed price quoted at the beginning, hand the vehicle back or start all over again. My question is I know on normal purchase you cannot claim vat on cars but can some be claimed on this sort of arrangement. Sorry for the long winded question but need to get this right.
0
Comments
-
I would say no. Generally only the contract hire route allows you to reclaim VAT on vehicles and even in this case it's restricted to 50%.
Best regards
Steve0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 87 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership