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Buying a new commercial vehicle

dantastic · 2014-08-20 10:02:26

I'm a VAT registered sole trader currently looking at upgrading. I am looking at buying a class N1 commercial vehicle. I'm trying to find out the actual cost of the purchase. I know there is something about a 8 year period. Am I reclaiming the VAT over 8 years or do I reclaim it all at next tax return? How is this deducted…

20-08-2014 10:02am

#1

dantastic

Registered Users, Registered Users 2 Posts: 395 ✭✭

Join Date: October 2009

Posts: 343

I'm a VAT registered sole trader currently looking at upgrading. I am looking at buying a class N1 commercial vehicle. I'm trying to find out the actual cost of the purchase.

I know there is something about a 8 year period. Am I reclaiming the VAT over 8 years or do I reclaim it all at next tax return?

How is this deducted in the tax return?

How does it work if I finance part of the purchase?

I have been trying to search for an online calculator but haven't been able to fine one, anyone know of any online calculators?

thanks!

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Comments

#2 20-08-2014 12:52pm

CIARAN_BOYLE

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Posts: 14299

I'd talk to your tax advisor. The 8 year thing is in relation to claiming the cost of an asset against income tax.

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