Buying a 2nd hand car, advice neded

[sofa----king]

i said to cia i can get you a car vat qualifying if you are vat reg this would benefit him.,.,.,

that's the point it won't benefit him. VAT is complicated but basically even if "VAT qualifying", you can't claim VAT back from HMRC on a car purchase when used personally. So he gets no benefit unless he is dishonest - not sure how many other ways it can be said

fm thats why i asked if he was vat reg in the begining.,.,then a few blondes said.,.,.,ooooooh.,.,ahhhhh.,.,., is there vat on used cars.,.,.,.,i know hes in the building game or he was when he came to cyprus.,.,.,hence i thought he might be vat reg.,.,bloody hell.,.,is this a wind up.,./?

[Josedinho]

Even if he was VAT registered it doesn't mean he could reclaim the VAT.

[BulldozerD]

lol nice level.

its quite clear you know everything about VAT, so i am wasting effort

[sofa----king]

Why the fuk have I just bought my accountant a ml Merc but it had to be vat qualifying then FFS

[BulldozerD]

Why the fuk have I just bought my accountant a ml Merc but it had to be vat qualifying then FFS

dunno, ask him.

maybe he is hoping it is a van

[kinboshi]

i said to cia i can get you a car vat qualifying if you are vat reg this would benefit him.,.,.,

that's the point it won't benefit him. VAT is complicated but basically even if "VAT qualifying", you can't claim VAT back from HMRC on a car purchase when used personally. So he gets no benefit unless he is dishonest - not sure how many other ways it can be said

If I buy a used car, can I claim the VAT back?

[StuartHopkin]

Why the fuk have I just bought my accountant a ml Merc but it had to be vat qualifying then FFS

LOL

Must be nice to have an accountant who risks his career for 17.5% of the value of his car.

I can just imagine him now having the rear windows filled in.

Of course Kinboshi can claim the VAT back.

[BulldozerD]

wait until VAT rate goes up to 20% then claim 20% back, simples

[EvilPie]

wait until VAT rate goes up to 20% then claim 20% back, simples

What a fantastic plan.

All our VAT claims are now officially on hold.

[EvilPie]

Why the fuk have I just bought my accountant a ml Merc but it had to be vat qualifying then FFS

Sofa.

If a car is VAT qualifying it means that at every stage of it's life it had VAT charged on it's sale and that VAT was subsequently recovered.

If at any stage it was sold to someone privately or if a company didn't reclaim the VAT then it would be non qualifying.

If it's non qualifying it should in theory be cheaper because at the point of sale it shouldn't have 17.5% added.

If there are several identical cars advertised at the same cost inclusive of VAT then someone who can legally reclaim the VAT would be better off going for one which was VAT qualifying as this car is effectively cheaper.

If you yourself purchase a VAT qualifying car but don't reclaim the VAT you immediately turn it in to a non VAT qualifying car. To keep it as a VAT qualifying car you would have to reclaim the VAT then sell in on to your acountant with VAT added back on to whatever you charge for it.

[MPOWER]

If it is not a Vat-Q car it's called Margin . Just saves on typing Non VAT Qualifying   

Regards

M

[sofa----king]

I'm not answering anymore on this thread,.,..

[cia260895]

I'm not answering anymore on this thread,.,..

Vats not fair.,.,.

[cia260895]

just days to go b4 finances are in place and have got my eye on this little beauty

http://www.autotrader.co.uk/classified/advert/201029363966804/sort/priceasc/usedcars/price-to/9000/quantity-of-doors/2/body-type/coupe/engine-size-cars/3l_to_3-9l/transmission/automatic/price-from/6000/model/3_series/make/bmw/radius/1500/page/7/postcode/kt48jx?logcode=p

[EvilPie]

just days to go b4 finances are in place and have got my eye on this little beauty

http://www.autotrader.co.uk/classified/advert/201029363966804/sort/priceasc/usedcars/price-to/9000/quantity-of-doors/2/body-type/coupe/engine-size-cars/3l_to_3-9l/transmission/automatic/price-from/6000/model/3_series/make/bmw/radius/1500/page/7/postcode/kt48jx?logcode=p

I had one of them a few years ago. Same engine just a couple of years older.

You won't regret it one bit.