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moorhouse
Nürburgring


Joined: 15 Apr 2013
Posts: 419
Location: Northumberland


PostPosted: Fri Jan 22, 2016 2:32 pm    Post subject: How to get the VAT back?? Reply with quote

Just happened across this - as a fellow farmer reckon he is chancing his arm trying to reclaim the VAT and class it as a working vehicle!!
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Rockunrolla
Albert Park


Joined: 27 Dec 2011
Posts: 1595
Location: Yorkshire


PostPosted: Fri Jan 22, 2016 2:53 pm    Post subject: Reply with quote

Does it have to be built it and registered as a commercial vehicle !
That what I've been told , I've closet thing I can get is a discovery commercial , then just add my own rear seats
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911tom
Albert Park


Joined: 22 May 2012
Posts: 1563
Location: Buckinghamshire


PostPosted: Fri Jan 22, 2016 2:53 pm    Post subject: Reply with quote

If you are using it 'wholly and exclusively' for business use I see no reason why not. Also if it is a pool car you may be able to providing use fits certain requirements.

Well thats my take on it!
 
  
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Rockunrolla
Albert Park


Joined: 27 Dec 2011
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Location: Yorkshire


PostPosted: Fri Jan 22, 2016 2:59 pm    Post subject: Reply with quote

No it's to be a commercial to claim vat back
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911tom
Albert Park


Joined: 22 May 2012
Posts: 1563
Location: Buckinghamshire


PostPosted: Fri Jan 22, 2016 3:02 pm    Post subject: Reply with quote

Rockunrolla wrote:
Does it have to be built it and registered as a commercial vehicle !
That what I've been told , I've closet thing I can get is a discovery commercial , then just add my own rear seats


It is easier to stick with commercial vehicles. Raises fewer eyebrows! One of my clients has new Range Rover Sport as a pool car. However I am not so sure he would be happy letting any of his guys that work for him behind the wheel! In fairness you hear of people doing 'this and that' and getting away with it! Reality is these people have clearly never been inspected. Reality is you could claim the VAT back on anything, even if it had not VAT on it to start with. Unless you are inspected who would know? I choose to work to the book as an inspection could be around the corner and those that think they are clever would soon come unstuck!

If you are using your cayenne as a farm vehicle with zero private use then in my eyes claiming the VAT back is the right thing to do!
 
  
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GT4
Nordschleife
Nordschleife


Joined: 08 Nov 2008
Posts: 30191
Location: Hertfordshire and Hampshire


PostPosted: Fri Jan 22, 2016 3:02 pm    Post subject: Reply with quote

I should have saved all the photos, but at least I still have proof of the hitch ( Confused )

http://www.911uk.com/viewtopic.php?t=54996


 
  
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911tom
Albert Park


Joined: 22 May 2012
Posts: 1563
Location: Buckinghamshire


PostPosted: Fri Jan 22, 2016 3:05 pm    Post subject: Reply with quote

Rockunrolla wrote:
No it's to be a commercial to claim vat back


Based on fact or common consensus? Fairly sure I am right about this but maybe not...
 
  
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Rockunrolla
Albert Park


Joined: 27 Dec 2011
Posts: 1595
Location: Yorkshire


PostPosted: Fri Jan 22, 2016 3:11 pm    Post subject: Reply with quote

My account says fact , as I've tried finding legal loopholes every where to buy nice motors through my company , and it always hits a deadend

Edit - if you know a way or a chartered accountant that can legally and then have no fear of an inspection get me the vat back on a new range then I'll employ them tomorrow ,
And Not to confuse getting vat back but then registering it as a company car and paying tax on it each month ,,
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Last edited by Rockunrolla on Fri Jan 22, 2016 3:17 pm; edited 1 time in total
 
  
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911tom
Albert Park


Joined: 22 May 2012
Posts: 1563
Location: Buckinghamshire


PostPosted: Fri Jan 22, 2016 3:15 pm    Post subject: Reply with quote

GT4 wrote:
I should have saved all the photos, but at least I still have proof of the hitch ( Confused )

http://www.911uk.com/viewtopic.php?t=54996




Shame the video in this link does not work!
 
  
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911tom
Albert Park


Joined: 22 May 2012
Posts: 1563
Location: Buckinghamshire


PostPosted: Fri Jan 22, 2016 3:21 pm    Post subject: Reply with quote

Rockunrolla wrote:
My account says fact , as I've tried finding legal loopholes every where to buy nice motors through my company , and it always hits a deadend

Edit - if you know a way or a chartered accountant that can legally and then have no fear of an inspection get me the vat back on a new range then I'll employ them tomorrow ,
And to to confuse getting vat back but then registering it as a company car and paying tax on it each month ,,


I think this has more to do with your accountant knowing your intensions! Therefore it would be wrong for them to suggest that you go down this route. Reality is it is you who signs your accounts each year and I am sure if you agreed in writing that your accountant is in no way liable they would let you.

Link here though not official more or less spells it out;

http://taxability.toyota.co.uk/ReclaimingVATonVehicles_45.html

If you claimed the car is 100% for business use then you would not pay tax on it either. All sounds appealing but really not worth the risk!
 
  
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Rockunrolla
Albert Park


Joined: 27 Dec 2011
Posts: 1595
Location: Yorkshire


PostPosted: Fri Jan 22, 2016 3:24 pm    Post subject: Reply with quote

I think the idea of a charted accountant is that they are liable ?
Hence why my accountants a pain in the arrse and even has to have all my bank statements not just invoices and sales ??
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911tom
Albert Park


Joined: 22 May 2012
Posts: 1563
Location: Buckinghamshire


PostPosted: Fri Jan 22, 2016 4:27 pm    Post subject: Reply with quote

Well I think if you are correct in that they are risking their accreditation and could be struck off if they are deemed to be liable. However there is nothing wrong with claiming VAT on a car used 100% for business use. If you wrote to your accountant stating that you need a lambo for your business for marketing etc and it is used wholly and exclusively for the business then that would be okay as you are essentially removing all liability from your accountant. However a I suspect if they are an honest person they would strongly advise against it! If ever you had an inspection you would have to justify your decision. Likewise if you have a VAT inspection and they ask where the discovery is. It would not be good to tell them that your wife is currently using it for the school run!
 
  
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moorhouse
Nürburgring


Joined: 15 Apr 2013
Posts: 419
Location: Northumberland


PostPosted: Fri Jan 22, 2016 4:36 pm    Post subject: Reply with quote

Maybe should have put a tongue in cheek warning guys - to be fair I was more bemused at the concept of the Cayenne pulling what must be a 5 to 6 tonne set of rolls and how long the clutch would last rather than an actual VAT dodge. Do have a neighbour who pulls his three section 14 ft paddock mower with a 1980s Bentley Mulsanne Turbo though!!
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GT4
Nordschleife
Nordschleife


Joined: 08 Nov 2008
Posts: 30191
Location: Hertfordshire and Hampshire


PostPosted: Fri Jan 22, 2016 4:43 pm    Post subject: Reply with quote

I thought it was a joke (the Cayenne styling, yes? Or are we talking about something else Dont know )
 
  
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NXI20
Approved Trader


Joined: 02 Feb 2008
Posts: 3221
Location: South Bucks

2004 Porsche 996 GT3 Mk2

PostPosted: Fri Jan 22, 2016 4:44 pm    Post subject: Reply with quote

Rockunrolla wrote:
No it's to be a commercial to claim vat back


Incorrect. Every "supercar club" type outfit claims the VAT back on their cars. That's what "VAT qualifying" means in the adverts of such cars when they're sold on - effectively, the VAT hasn't been paid yet.
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Rockunrolla
Albert Park


Joined: 27 Dec 2011
Posts: 1595
Location: Yorkshire


PostPosted: Fri Jan 22, 2016 4:56 pm    Post subject: Reply with quote

Seems like my accountants tell me incorrect then ,
I'll be calling them Monday ,
Cheers guys
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911tom
Albert Park


Joined: 22 May 2012
Posts: 1563
Location: Buckinghamshire


PostPosted: Fri Jan 22, 2016 5:33 pm    Post subject: Reply with quote

moorhouse wrote:
Maybe should have put a tongue in cheek warning guys - to be fair I was more bemused at the concept of the Cayenne pulling what must be a 5 to 6 tonne set of rolls and how long the clutch would last rather than an actual VAT dodge. Do have a neighbour who pulls his three section 14 ft paddock mower with a 1980s Bentley Mulsanne Turbo though!!


Haha sorry got carried away there! However there was a question to be answered!
 
  
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