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Claiming VAT back when buying a used car

  • 28-07-2020 10:45PM
    #1
    darby5250
    Registered Users, Registered Users 2 Posts: 19 ✭


    Hi,

    I’m own my own business and in the past I’ve bought commercial jeeps so that I can buy the vehicle through the business and claim the 23% VAT back. I’m just curious, can I buy a used car say a BMW 5 series and still claim the VAT back on if the car is purchased through the business?
    Tagged:


Comments

  • #2
    R.O.R
    Registered Users, Registered Users 2 Posts: 12,736 ✭✭✭✭R.O.R


    Simple answer is no.

    But, if the used vehicle you are buying is ex. lease or ex. rental, then it would probably come with a VAT invoice, and if you keep the car for at least 2 years, use it at least 60% of the time in connection with the business, and the Co2 emissions are 156g or less, then you can reclaim 20% of the VAT amount.

    Majority of cars for sale in Ireland are not VAT qualifying, but ex. lease & rental would be.

    ALD Car Market - https://www.carzone.ie/dealers/ireland/dublin/10006594
    CarNext (LeasePlan) - https://www.carzone.ie/dealers/ireland/dublin/10007850

    Both sell ex. lease vehicles direct to the public.


  • #3
    darby5250
    Registered Users, Registered Users 2 Posts: 19 ✭darby5250


    R.O.R wrote: »
    Simple answer is no.

    But, if the used vehicle you are buying is ex. lease or ex. rental, then it would probably come with a VAT invoice, and if you keep the car for at least 2 years, use it at least 60% of the time in connection with the business, and the Co2 emissions are 156g or less, then you can reclaim 20% of the VAT amount.

    Majority of cars for sale in Ireland are not VAT qualifying, but ex. lease & rental would be.

    ALD Car Market - https://www.carzone.ie/dealers/ireland/dublin/10006594
    CarNext (LeasePlan) - https://www.carzone.ie/dealers/ireland/dublin/10007850

    Both sell ex. lease vehicles direct to the public.

    I'll check this out. Thanks


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