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Buying Passenger Car to Lease

Jonny303 · 2021-05-21 11:47:56

Hi, vat question here. Can I as a VAT registered Ltd company claim the VAT back on the purchase of a passenger vehicle that is going to be used as a long term hire? I know as a leasing/hire company it's possible, but I'm just unsure if a single vehicle counts? It would be hired to someone NOT working for the company, on a…

21-05-2021 11:47am

#1

Jonny303

Registered Users, Registered Users 2 Posts: 634 ✭✭✭

Join Date: May 2007

Posts: 394

Hi, vat question here.

Can I as a VAT registered Ltd company claim the VAT back on the purchase of a passenger vehicle that is going to be used as a long term hire?

I know as a leasing/hire company it's possible, but I'm just unsure if a single vehicle counts?

It would be hired to someone NOT working for the company, on a long term lease agreement. The reason for doing it....the company has cash and see's it as a way of using some of it.

Obviously VAT would be charged on the hire/lease and that would be up to the hirer to account for.

Thanks

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