Splitting VAT on a Commercial vehicle
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penrod1631
Apprentice
Joined: 07 Feb 2011
Posts: 2
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 Posted: 12/07/11 - 11:17 Post subject: |
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| Hello to all. I am the owner of a small business. In the near future I am hoping to buy a vehicle for both commercial use as well as my own private use. Does anyone know how this works in terms of VAT? I heard that VAT is due on the percentage of the car that will be used privately and the rest can be reclaimed. Can anyone tell me more? |
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hersch1112
Apprentice
Joined: 08 Apr 2009
Posts: 4
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| Posted: 01/06/12 - 02:43 Post subject: |
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| Note that if the vehicle you are buying is not a car (that is, in other words, if it is a truck, tractor, van, or similar) then the VAT will be able to be recovered in full. For an actual CAR though, the VAt you can claim back depends on how much of the time you will be using it privately, that is, not for the company's use. This is bit blurry though. Imagine if you are driving over to the house of your business partner for a nice dinner. Would that be private or commercial? |
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