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VAT Cut 23% to 21%

  • 23-07-2020 5:10pm
    #1
    AmberGold
    Registered Users, Registered Users 2 Posts: 1,285 ✭✭✭


    Will this apply to Car Sales?


«1

Comments

  • #2
    arch_stanton
    Registered Users, Registered Users 2 Posts: 619 ✭✭✭arch_stanton


    Can we now expect a few euros off with this temporary VAT change from 23% to 21%? It's due to take effect in September


  • #3
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,330 ✭✭✭✭drunkmonkey


    arch_stanton wrote: »
    Can we now expect a few euros off with this temporary VAT change from 23% to 21%? It's due to take effect in September

    It's only car repairs, tbh I think what there doing is lunacy, this thing is far from over and there spending money like it's Xmas. Are we going for another bailout for each wave.


  • #4
    pullandbang
    Hosted Moderators Posts: 4,948 ✭✭✭pullandbang


    drunkmonkey wrote: »
    It's only car repairs,

    Repairs are @ 13.5%.


  • #5
    arch_stanton
    Registered Users, Registered Users 2 Posts: 619 ✭✭✭arch_stanton


    I think it's the whole higher rate band, cars, drink, clothes etc. The car repair thing was just an example going around in some early headlines and tweets.


  • #6
    pullandbang
    Hosted Moderators Posts: 4,948 ✭✭✭pullandbang


    It will apply to anything that currently has the 23% rate, including cars.


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  • #7
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,330 ✭✭✭✭drunkmonkey


    arch_stanton wrote: »
    I think it's the whole higher rate band, cars, drink, clothes etc. The car repair thing was just an example going around in some early headlines and tweets.

    Yea I read it in the indo earlier, could have changed now, it's still on their website...your right looks across the board now.
    Could be a red flag for the car SEAI grant if there going flat out retrofitting homes.

    The standard rate of VAT on food, clothes and car repairs will be reduced from 23pc to 21pc for a number of months.


  • #8
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,330 ✭✭✭✭drunkmonkey


    pullandbang wrote: »
    Repairs are @ 13.5%.

    I know it was the Independent, should have know better than to believe them. Times has it correct.


  • #9
    jonnythefox
    Registered Users Posts: 160 ✭✭jonnythefox


    drunkmonkey wrote: »
    Yea I read it in the indo earlier, could have changed now, it's still on their website...your right looks across the board now.
    Could be a red flag for the car SEAI grant if there going flat out retrofitting homes.

    The standard rate of VAT on food, clothes and car repairs will be reduced from 23pc to 21pc for a number of months.

    I’m bit confused. Is the VAT reduced on cars?


  • #10
    jhegarty
    Registered Users, Registered Users 2 Posts: 6,441 ✭✭✭jhegarty


    jonnythefox wrote: »
    I’m bit confused. Is the VAT reduced on cars?

    RTE are saying it's for everything currently on 23%. So this would include cars.


  • #11
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,330 ✭✭✭✭drunkmonkey


    jonnythefox wrote: »
    I’m bit confused. Is the VAT reduced on cars?

    Seems so it's across the board, I'd assume the vat figure is before grants so about €900 off then 1st including metallic and delivery.
    If vat registered you can also claim 20% of the remaining vat if you use it over 60% for business.


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  • #12
    Zenith74
    Registered Users, Registered Users 2 Posts: 755 ✭✭✭Zenith74


    I have a VRT appointment on 31st August where I will need to pay VAT on a car I recently imported, sounds like I might do well to delay that a few days?


  • #13
    KCross
    Registered Users, Registered Users 2 Posts: 12,136 ✭✭✭✭KCross


    Zenith74 wrote: »
    I have a VRT appointment on 31st August where I will need to pay VAT on a car I recently imported, sounds like I might do well to delay that a few days?

    For sure. 1st sept is the next vat period so you need to reschedule passed that date if you can.

    Although 2% probably won’t be big money in your case?


  • #14
    Zenith74
    Registered Users, Registered Users 2 Posts: 755 ✭✭✭Zenith74


    KCross wrote: »
    For sure. 1st sept is the next vat period so you need to reschedule passed that date if you can.

    Although 2% probably won’t be big money in your case?

    €500Ish so worth a reschedule I think! Thanks!


  • #15
    Alter_Ego
    Registered Users Posts: 196 ✭✭Alter_Ego


    Zenith74 wrote: »
    I have a VRT appointment on 31st August where I will need to pay VAT on a car I recently imported, sounds like I might do well to delay that a few days?


    How did you get this booked? I imported a car in March, had a VRT appointment scheduled for 28/03. They closed the VRT offices that very day and haven't reopened them since. I check every so often and when trying to book a new appointment I just get:
    "Due to public restrictions to tackle the spread of the Coronavirus, we have no schedules open until further notice."


  • #16
    AmberGold
    Registered Users, Registered Users 2 Posts: 1,285 ✭✭✭AmberGold


    So if you had a New car on order due for delivery mid August what would you be positioning with the garage?

    Trade in generous and don’t want to piss them off.

    Saving not insignificant.


  • #17
    RandomViewer
    Registered Users, Registered Users 2 Posts: 6,191 ✭✭✭RandomViewer


    Zenith74 wrote: »
    I have a VRT appointment on 31st August where I will need to pay VAT on a car I recently imported, sounds like I might do well to delay that a few days?

    Don't you mean VRT, shouldn't be VAT on second hand car


  • #18
    KCross
    Registered Users, Registered Users 2 Posts: 12,136 ✭✭✭✭KCross


    AmberGold wrote: »
    So if you had a New car on order due for delivery mid August what would you be positioning with the garage?

    Trade in generous and don’t want to piss them off.

    Saving not insignificant.

    I’d ask for a 1st Sep invoice.

    It’s not going to change their profit just delay it by 2 weeks. Can’t see it would be a big issue for them unless they already have cash flow issues.


  • #19
    slave1
    Moderators, Sports Moderators Posts: 19,192 Mod ✭✭✭✭slave1


    Alter_Ego wrote: »
    How did you get this booked? I imported a car in March, had a VRT appointment scheduled for 28/03. They closed the VRT offices that very day and haven't reopened them since. I check every so often and when trying to book a new appointment I just get:
    "Due to public restrictions to tackle the spread of the Coronavirus, we have no schedules open until further notice."

    VRT offices open since second week of July


  • #20
    Alter_Ego
    Registered Users Posts: 196 ✭✭Alter_Ego


    RandomViewer wrote: »
    Don't you mean VRT, shouldn't be VAT on second hand car


    If the mileage is less than 6,000 km you're liable for VAT too on a second hand car.


  • #21
    Alter_Ego
    Registered Users Posts: 196 ✭✭Alter_Ego


    slave1 wrote: »
    VRT offices open since second week of July


    OK, I guess I'll give them a call them, the online booking system appears to be closed still


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  • #22
    gypsy79
    Registered Users, Registered Users 2 Posts: 1,785 ✭✭✭gypsy79


    AmberGold wrote: »
    So if you had a New car on order due for delivery mid August what would you be positioning with the garage?

    Trade in generous and don’t want to piss them off.

    Saving not insignificant.

    You are assuming that the reduced rate will be passed on to the consumer


  • #23
    AmberGold
    Registered Users, Registered Users 2 Posts: 1,285 ✭✭✭AmberGold


    gypsy79 wrote: »
    You are assuming that the reduced rate will be passed on to the consumer

    Sort of thought that’s what the Government intended :0


  • #24
    gypsy79
    Registered Users, Registered Users 2 Posts: 1,785 ✭✭✭gypsy79


    AmberGold wrote: »
    Sort of thought that’s what the Government intended :0

    Hmmmm, could be considered a move to allow them increase margins and survive on fewer sales

    Arguable


  • #25
    stesaurus
    Registered Users, Registered Users 2 Posts: 2,934 ✭✭✭stesaurus


    Alter_Ego wrote: »
    OK, I guess I'll give them a call them, the online booking system appears to be closed still

    Try online Monday afternoon, seems to be when they release new dates


  • #26
    un5byh7sqpd2x0
    Closed Accounts Posts: 1,862 ✭✭✭un5byh7sqpd2x0


    gypsy79 wrote: »
    You are assuming that the reduced rate will be passed on to the consumer

    It’s illegal not to


  • #27
    CountingCrows
    Registered Users, Registered Users 2 Posts: 1,831 ✭✭✭CountingCrows


    Javier Cool Numskull wrote: »
    It’s illegal not to

    LOL


  • #28
    JohnC.
    Registered Users, Registered Users 2 Posts: 3,465 ✭✭✭JohnC.


    Javier Cool Numskull wrote: »
    It’s illegal not to

    It's not illegal for them to keep charging the same. The VAT may be reduced, but they just take a larger profit, partly to cover increased costs and fewer sales and that period everything was closed. It's up to them if they reduce the price in line with the VAT drop.


  • #29
    JohnC.
    Registered Users, Registered Users 2 Posts: 3,465 ✭✭✭JohnC.


    Javier Cool Numskull wrote: »
    You’re wrong there Ted.

    Exactly which law stops a shop or vendor setting their margin at whatever they want?


  • #30
    Zenith74
    Registered Users, Registered Users 2 Posts: 755 ✭✭✭Zenith74


    Alter_Ego wrote: »
    How did you get this booked? I imported a car in March, had a VRT appointment scheduled for 28/03. They closed the VRT offices that very day and haven't reopened them since. I check every so often and when trying to book a new appointment I just get:
    "Due to public restrictions to tackle the spread of the Coronavirus, we have no schedules open until further notice."

    Yeah the site is very confusing. I read that note and the usual VRT office I go to had no appointments, but I figured I'd try some of the others out of interest and found that some of them are actually open (eg. Dundalk). Strange. What it makes me wonder is if I was stopped with the UK reg on the car, beyond 30 days in the country, what would happen? VRT appointments are possible, but most people won't realise that I guess!


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  • #31
    Zenith74
    Registered Users, Registered Users 2 Posts: 755 ✭✭✭Zenith74


    RandomViewer wrote: »
    Don't you mean VRT, shouldn't be VAT on second hand car

    It's an ex-demo, so less than 6 months old and less than 6000km so classed as a new means of transport. Importing as a company car though, so we can reclaim the UK 20% VAT, pay the 23% Irish VAT then avail of the VAT incentive on EVs to reclaim a fifth of the VAT paid for an effective VAT rate of 18.5%. Also should be able to use the Accelerated Capital Allowance scheme on it because again it is 'new'.

    Alternative was to leave it with the dealer a few months to get over the 6 months and let them run the mileage up to 6000km.


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