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Claiming VAT back

  • 17-01-2009 9:12pm
    #1
    Cork1900
    Closed Accounts Posts: 1 ✭


    Hi All,

    A delayed happy new year to you all ! - Here is the thing.
    I have setup a LTD company ( Property management ) with my brother and we are all ready to go, except are going to buy a company car, the car is going to be from year 2006 or 2007.

    Example.
    Let say the car we have looked at cost 15K plus VAT, and now here is the questions.

    1. How do I can claim back the VAT on the car?
    2. How do I do it? 1,2,3,4 or how many times pr year do I reclaim VAT ect.
    3. Will I get a cheque for the VAT i have paid on the car?

    Thanksk for this great forum and Ill look forward to hear from you.

    Cheers.

    J


Comments

  • #2
    Legend100
    Registered Users, Registered Users 2 Posts: 736 ✭✭✭Legend100


    Hi J

    You cannot reclaim vat on a car, only a commercial vehicle (van, truck etc).

    The recent budget brought in an allowance to reclaim 20% of the vat charged on a company car but the car must be registered after 1 jan 09 and you are looking at an older car so you will not be allowed to reclaim the vat paid.

    The filing of your returns and payments or repayments will depend on your expected turnover when you register for tax. The Revenue will issue you with a Vat 3 form and this will indicate on it the number of returns that need to be made as it will cover a defined period of months


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