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Tax Obligations on a UK Lease Car

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  • 05-06-2021 7:17pm
    #1
    Kingkong
    Registered Users Posts: 562 ✭✭✭


    Hi All;

    I am a accountant but have recently been asked about this situation below and unsure of post Brexit Impact.


    Irish Limited company signed a UK lease post Brexit for an Electric Car.
    The car is used by a director.
    The car is driven north and south.
    The company has no presence in the UK.
    The leasing company is not charging VAT as its supply is to an Irish Company
    As its an electric car no BIK is due on it via Payroll
      I am unclear if VAT on the leave payments should be self accounted for? I am unclear if the full lease payment is deductible on the CT return OMV is 40,000 STG
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