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Tax Question on VAT implications.

c.k28 · 2013-07-31 12:17:06

Ok I'm looking for some help with a taxation question: What are the VAT implications of not charging full market price for servicing cars owned by family members?

31-07-2013 12:17pm

#1

c.k28

Registered Users, Registered Users 2 Posts: 11 ✭

Join Date: April 2013

Posts: 7

Ok I'm looking for some help with a taxation question:

What are the VAT implications of not charging full market price for servicing cars owned by family members?

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Comments

#2 02-08-2013 3:24pm

Jamama

Registered Users, Registered Users 2 Posts: 13 ✭

Join Date: July 2013

Posts: 9

As far as I know you only charge vat on the amount you receive. If you charge someone €100 for a service and you charge a family member €50 for the same service you only charge vat on 50 to your family member.
If you supply parts that you reclaimed vat on to a family member for free this would be seen a self supply and you would have to repay the vat you claimed on the purchase of the parts.

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