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VRT query

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  • 18-09-2015 11:34am
    #1
    Gabi2p
    Registered Users Posts: 5 ✭


    Hi all!

    If I buy a business car from NI the value goes as an asset, but what about VRT? Is that charged as an expense to P&L or do I put it as part of an asset and show in the statement of financial position?

    Thank you


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    #2
    barneystinson
    Registered Users Posts: 4,683 ✭✭✭barneystinson


    Gabi2p wrote: »
    Hi all!

    If I buy a business car from NI the value goes as an asset, but what about VRT? Is that charged as an expense to P&L or do I put it as part of an asset and show in the statement of financial position?

    Thank you

    Well you don't really have an asset you can use until you've paid the vrt- it's intrinsically part of bringing the asset into use...


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