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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
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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
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