2000 sport

iTrader: (1)

probably a stupid question, but I can't find an answer on google or ask..

I am looking at buying a truck, most adverts give a +vat price, would I be better off buying the vehicle through my old mans business or not ?

How does the vat work on a second hand vehicle ?

Scooby Soon!

He would buy it, claim the VAT back from his sales on his VAT return and then when he sold it to you charge VAT again......

GC8

VAT on a commercial vehicle is a straight 17.5% although not all commercial vehicles are sold with VAT added (where the previous owner has absorbed the tax because they werent registered). VAT on used cars is charged on the difference between the purchase price and the selling price and this can not be reclaimed.

Simon

2000 sport

iTrader: (1)

right, think I have got it now..

so there is no benefit in buying the vehicle through the business then ?

cheers,

Kev_turbo

Unless your dad remains the owner. The vat must be paid when he sells it so if he 'never' sells it then no VAT to pay

ben44

Although he could be really crap at business and sell it on to you at a large loss.....

2000 sport

iTrader: (1)

having a thick day !

that's what I originally thought, but somehow got GC8's post around my neck..

cheers for your help !