Searched but still unclear.....
If purchase a preowned car (not van, commercial, etc) through a bonafide dealer, who issues and states "VAT Qualifying" and shows it clearly on the invoice. Assume that I can then (re)claim the VAT. Appreciate that I would have to charge VAT when I sell a few years down the line ie owe the VAT element to the HMRC.
Intend to use it solely for business use ie drive to the client (Monday morning) and then from client to hotel and at end of week on Friday return home. Would park up the car at "home" until drive back to client on Mondays, whilst using my personal car at weekends. Guess this would satisfy the HMRC?
Making the assumption
Do the "well informed" think this is allowable (yes will also be asking the accountant). My key concern is that the vehicle will be parked at home.
If purchase a preowned car (not van, commercial, etc) through a bonafide dealer, who issues and states "VAT Qualifying" and shows it clearly on the invoice. Assume that I can then (re)claim the VAT. Appreciate that I would have to charge VAT when I sell a few years down the line ie owe the VAT element to the HMRC.
Intend to use it solely for business use ie drive to the client (Monday morning) and then from client to hotel and at end of week on Friday return home. Would park up the car at "home" until drive back to client on Mondays, whilst using my personal car at weekends. Guess this would satisfy the HMRC?
Making the assumption
- that their will be no BIK to pay as car is used solely for buiness (what about the potential "fly in the ointment" over hotel and back to client site?)
- all car expenses can be put through the business
- can still bill the client 45p/mile but not (personally) reclaim
Do the "well informed" think this is allowable (yes will also be asking the accountant). My key concern is that the vehicle will be parked at home.
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