VRT and VAT on new Mitsubishi PHEV?

randombar

Hi there,

Looking for some help if someone knows the info.

My mother is buying a new car and because my Dad is a disabled passenger she will get the car without paying Vat or VRT.

I was just wondering if the list price is 45k how much of that price is VRT and VAT?

I understand VAT is 20% but VRT is very variable.

Thanks,
Gary

User1998

Find out the co2 emissions of the car and compare it to the new VRT rates, it should be 7%

R.O.R

Can't promise these figures are 100% correct, but should be close enough. If it's a different model being purchased, you'd need to find the retail price, but can use the same formula

Outlander EV Intense 5 Seat - €43,953
Metallic - €505
Total - €44,458

OMSP (10% off retail - this is a guess, but an educated one) - €40,012.20

Co2 emissions are 46g, so falls in to the 7% VRT bracket (anything up to 50g)

VRT = €2,801 (7% of €40,012.20, rounded up)

VAT = €7,229.72

To get the VAT:
Retail (€44,458) - VRT (€2,801)
Divide Result (€41,657) by 1.21(current VAT Rate) to arrive at the base price of the vehicle = €34,427.27
Retail less VRT, less base price = VAT

To get the VRT amount you need to use the retail price of the vehicle (excluding delivery and any locally fitted extras).
To get the VAT amount you need to use the cost price of the vehicle. I used retail in both scenarios to keep it simple.

randombar

R.O.R wrote: »

Can't promise these figures are 100% correct, but should be close enough. If it's a different model being purchased, you'd need to find the retail price, but can use the same formula

Outlander EV Intense 5 Seat - €43,953
Metallic - €505
Total - €44,458

OMSP (10% off retail - this is a guess, but an educated one) - €40,012.20

Co2 emissions are 46g, so falls in to the 7% VRT bracket (anything up to 50g)

VRT = €2,801 (7% of €40,012.20, rounded up)

VAT = €7,229.72

To get the VAT:
Retail (€44,458) - VRT (€2,801)
Divide Result (€41,657) by 1.21(current VAT Rate) to arrive at the base price of the vehicle = €34,427.27
Retail less VRT, less base price = VAT

To get the VRT amount you need to use the retail price of the vehicle (excluding delivery and any locally fitted extras).
To get the VAT amount you need to use the cost price of the vehicle. I used retail in both scenarios to keep it simple.

They are almost matching what I had too so makes sense.

colm_mcm

What’s the Goldilocks car for disabled passenger scheme these days? Used to be stuff with high VRT but lowish tax where you’d have a nice bit of VRT to claim back.

randombar

colm_mcm wrote: »

What’s the Goldilocks car for disabled passenger scheme these days? Used to be stuff with high VRT but lowish tax where you’d have a nice bit of VRT to claim back.

Subaru seems to be a very high vrt from what I understand.

colm_mcm

Oh I meant to add in high resale value.