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Vat qualifying cars

  • 24-03-2013 3:49pm
    #1
    afishyfish
    Registered Users, Registered Users 2 Posts: 207 ✭✭


    I heard it's possible to buy a car with a vat receipt.
    A car that has never been privately owned.
    Usually these would 'nearly new' be ex-fleet or ex-rental.
    The advantage obviously being that a company could buy one for business purposes 'write off' the vat element.
    Is this true?
    And if so, any leads on how to source these cars?
    Cheers.

    ps. I'm talking specifically about cars (not commercials)

    I know this exists in the UK. I heard that they exist in Ireland too.
    Tagged:


Comments

  • #2
    Drummerboy08
    Closed Accounts Posts: 12,102 ✭✭✭✭Drummerboy08


    Can only claim VAT back on a Commercial vehicle AFAIK.


  • #3
    R.O.R
    Registered Users, Registered Users 2 Posts: 12,712 ✭✭✭✭R.O.R


    afishyfish wrote: »
    I heard it's possible to buy a car with a vat receipt.
    A car that has never been privately owned.
    Usually these would 'nearly new' be ex-fleet or ex-rental.
    The advantage obviously being that a company could buy one for business purposes 'write off' the vat element.
    Is this true?
    And if so, any leads on how to source these cars?
    Cheers.

    ps. I'm talking specifically about cars (not commercials)

    I know this exists in the UK. I heard that they exist in Ireland too.
    You will only be able to right off 20% of the VAT on a passenger vehicle, if it meets certain criteria.

    Only cars that end up as used VAT qualifying vehicles in Ireland are ex. Rentals. More likely to find VAT qualifying cars in the UK, but it seems more and more over there are margin scheme vehicles.


  • #4
    Drummerboy08
    Closed Accounts Posts: 12,102 ✭✭✭✭Drummerboy08


    R.O.R wrote: »
    You will only be able to right off 20% of the VAT on a passenger vehicle, if it meets certain criteria.

    Only cars that end up as used VAT qualifying vehicles in Ireland are ex. Rentals. More likely to find VAT qualifying cars in the UK, but it seems more and more over there are margin scheme vehicles.

    Just to clarify in case people get the wrong idea, it's 20% of the VAT element....

    The amount of people I've had confused by this is unreal!


  • #5
    afishyfish
    Registered Users, Registered Users 2 Posts: 207 ✭✭afishyfish


    Thanks guys. Much appreciated.


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