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RECLAIMING VAT ON VAN PURCHASE (IS THE SCRAPPAGE TO BE INCLUDED?)

ASBO · 2016-05-23 15:22:05

I am a sole trader. Started in Jan 2015, didnt VAT register and purchased a 2nd hand van. In Jan 2016 I registered for VAT. Ive purchased a new VAN (2016) and availed of scrappage on the original vehicle. Cost price was 19,600 less 3000 scrappage. Am I reclaiming vat on the full 19,600 or do I deduct the scrappage value…

23-05-2016 3:22pm

#1

ASBO

Registered Users, Registered Users 2 Posts: 78 ✭✭

Join Date: January 2007

Posts: 56

I am a sole trader.

Started in Jan 2015, didnt VAT register and purchased a 2nd hand van.

In Jan 2016 I registered for VAT.

Ive purchased a new VAN (2016) and availed of scrappage on the original vehicle.

Cost price was 19,600 less 3000 scrappage.

Am I reclaiming vat on the full 19,600 or do I deduct the scrappage value first?

Any guidance appreciated.

ASBO

0

Comments

#2 23-05-2016 3:35pm

Mr. Incognito

Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭

Join Date: March 2007

Posts: 9552

You reclaim VAT on the full amount

0