Reclaiming VRT/VAT ?

vectra

I have forgotten how to calculate this again :P

Could someone enlighten me please?


Thanks

R.O.R

vectra wrote: »

I have forgotten how to calculate this again :P

Could someone enlighten me please?


Thanks

VAT / VRT is non reclaimable on passenger cars in ROI. VAT @ 21.5% is reclaimable on commercial vehicles.

vectra

R.O.R wrote: »

VAT / VRT is non reclaimable on passenger cars in ROI. VAT @ 21.5% is reclaimable on commercial vehicles.

It is if you are the holder of a primary medical cert

R.O.R

vectra wrote: »

It is if you are the holder of a primary medical cert

aaah...........:o

Can't help on that, sorry...

vectra

R.O.R wrote: »

aaah...........:o

Can't help on that, sorry...

Thanks
I am just weighing up my options for my next car

Lord Trollington

Depending on the vehicle and you entitlements, if your a driver or a passenger the amount varies.
http://www.citizensinformation.ie/categories/travel-and-recreation/transport-and-disability/tax_relief_for_disabled_drivers_and_disabled_passengers

i'd also consider the future resale value of the car when making your decision.
You will for example get more money off a petrol because the VRT will be higher due to the CO2 Emmissions.
but a diesel will more than likely cost u a little more because of low CO2, Less vrt reclaim but it will hold its value better for future.

paddydriver

Is it possible to reclaim the UK VAT on a 2nd hand car brought in? The invoice I have shows a few grand UK VAT so I must be able to go back for that

vectra

whycliff wrote: »

Depending on the vehicle and you entitlements, if your a driver or a passenger the amount varies.
http://www.citizensinformation.ie/categories/travel-and-recreation/transport-and-disability/tax_relief_for_disabled_drivers_and_disabled_passengers

i'd also consider the future resale value of the car when making your decision.
You will for example get more money off a petrol because the VRT will be higher due to the CO2 Emmissions.
but a diesel will more than likely cost u a little more because of low CO2, Less vrt reclaim but it will hold its value better for future.

I understand that
BUT
what i am wondering is this
If a car is in the 28% vrt rate and 21% vat
How do I calculate how much comes off?

Lord Trollington

you cannot reclaim vat on 2nd hand vehicles.

Altreab

vectra wrote: »

It is if you are the holder of a primary medical cert

First off ask the garage what the VRT content is on the car your looking at. Should be no problem if its new.. If second hand go to Revenue.ie and input the details into the VRT calculater there Now you have the VRT

VAT is calculated by dividing the Invoice price by 1.215 then subtracting the result from the Invoice price.
EG Invoice price is €12500 euro
12500/1.215 = 10000
VAT content is €12500 - €10000 = €2500
Remember you can also claim back |VAT for the work done to adapt the car as well. VAT is calculated same for new or second hand cars.

Remember also you are restricted to claiming a MAX €9525 if a driver or €15000 Approx for a passenger.

Hope that helps

vectra

Altreab wrote: »

First off ask the garage what the VRT content is on the car your looking at. Should be no problem if its new.. If second hand go to Revenue.ie and input the details into the VRT calculater there Now you have the VRT

VAT is calculated by dividing the Invoice price by 1.215 then subtracting the result from the Invoice price.
EG Invoice price is €12500 euro
12500/1.215 = 10000
VAT content is €12500 - €10000 = €2500
Remember you can also claim back |VAT for the work done to adapt the car as well. VAT is calculated same for new or second hand cars.

Remember also you are restricted to claiming a MAX €9525 if a driver or €15000 Approx for a passenger.

Hope that helps

so does the vrt come off first or the vat?

Altreab

vectra wrote: »

so does the vrt come off first or the vat?

Vat off Full invoice price. VRT makes up part of the full invoice price. Yes that DOES mean your paying VAT on VRT If you need the full details ring CoolShannagh and ask for the disabled drivers section. They will give you the full story.

Lord Trollington

you dont pay VAT on VRT, subtract the VRT first and then calculate the VAT price.

colm_mcm

Yup, you subtract the VAT after the VRT is removed.

VRT can be roughly calculated if you know the emissions band of the car and take the OMSP to be roughly 90% of the list price.

Carzone tells you what percentage of VRT is on all new cars.

vectra

whycliff wrote: »

you cannot reclaim vat on 2nd hand vehicles.

colm_mcm wrote: »

Yup, you subtract the VAT after the VRT is removed.

VRT can be roughly calculated if you know the emissions band of the car and take the OMSP to be roughly 90% of the list price.

Carzone tells you what percentage of VRT is on all new cars.

OK
Here is what I was looking at.


Subaru Impreza 2.0 TD
€22,370

The vrt rate as far as I know is 28%

so
do I asume 90% of €22370 is the omsp/
then deduct 28% of that
then deduct 21% VAT ?
I know this cannot exceed 9.5k approx.

Now
Second choice
This one

Subaru Impreza 2.0 TD
€25,450

As I see it, the only difference is the bodykit and wheels etc.
So.
This is where it gets tricky

do I assume 90% of €25,450 as omsp
OR
is it 90% of €22370 ?
I think it would be the lesser amount and I think I would only get the VAT off the excess??
I hope this makes sence to someone

drunkmonkey

R.O.R wrote: »

VAT / VRT is non reclaimable on passenger cars in ROI. VAT @ 21.5% is reclaimable on commercial vehicles.

If you are vat registerd in Ireland and if buy a car from a UK business (Garage) you should not have pay the uk vat?, would you then have to pay the Irish Vat and VRT or could you hold off paying the vat until you sell the car and then pay the vat on the sale price..

it's hardly possible?