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VAT/VRT question - want to sell on van imported from NI last year...

  • 06-01-2016 2:41pm
    #1
    martco
    Registered Users, Registered Users 2 Posts: 459 ✭✭


    Hopefully this correct forum....

    I'm a Dublin based sole trader & VAT registered

    My Company bought a nice 10 month old as good as new and highly specced VW Transporter van from Agnews in Belfast last year (there were none similar suitable locally at the time and even now still aren't specwise) dealer even transported her down for me to Dublin did paperwork etc at the NCTS/VRT office, paid the VRT, DOE, registered, etc. I got a very good deal compared to what I'd have paid locally even despite the Sterling being so poor. Anyways, all proper 100% above board.

    I bought it for a particular piece of work which is now over and much as I like the van I have to sell the van on.

    My question is this: It's my company van and I intend to sell it on to whomever wants her be it another company or private individual buyer but my head is a bit wrecked with the question of how to price up the van?

    Say I paid €21,000 all in to have her on the road VRT, registration etc.
    Zero VAT changed hands as business purchase from dealer in EU.....I'm not looking to profiteer but at same time due to spec it's not average joe van and I'm confident I can (sorry my company can) defo get the purchase money straight back.

    so is it:

    a) a private individual wants her so I set price @€;21000 + 21.5% VAT which thereafter pass on directly to revenue
    b) another VAT registered business just like me wants her as their company van I set price @€;21,000 no VAT included
    c) another business wants her as their company van I set price @€;21,000 + VAT....BUT the purchasing company now has that 21.5% VAT to use against their books

    I'm thinking there might also be a potential CGT gain issue in here somewhere if I get the price I want (I'll be beating the normal depreciation if I do)


    thanks!


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