VAT Invoice on Commercial

Ispeakthetruth

Greetings,

I'm looking to buy a second hand crew cab that comes with a vat invoice, I am wondering if I pay the dealer the full price and get vat refunded from revenue or pay the dealer the price without VAT? I am VAT registered myself, but the answer eludes me. Dont really want to ask the dealer either.

Thanks in advance and happy new year

Bigus

You have to pay the vat and get a refund if you're entitled to it.
just like everything else you buy in this state. only way not to pay vat is to import and give a vat number

THE LINK WALSH

Ispeakthetruth wrote: »

Greetings,

I'm looking to buy a second hand crew cab that comes with a vat invoice, I am wondering if I pay the dealer the full price and get vat refunded from revenue or pay the dealer the price without VAT? I am VAT registered myself, but the answer eludes me. Dont really want to ask the dealer either.

Thanks in advance and happy new year

You should get back your VAT in Two Months,some banks/finance companies might wait for the vat until you get it back by structuring your loan in a way that means you make your 1st two Monthly payments inc vat and the payments after you give them the reclaimed vat are at the lower plus vat figure.

You could ask the dealer to wait for the Vat either but your unlikely to meet any joy there unless you deal with him in an extensive way.

crosshair1

You will pay him the total price, it is up to you to reclaim/ offset the vat that he has charged you.
Most finance cos will not fund the vat component of your purchase.

lifer_sean

You pay the full amount including the vat. You then claim a credit of vat (as you would for all other invoices) when doing your next vat return, and the credit is offset against the vat you owe or repaid to you as appropriate.