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  • Tips & Advice VAT - Do we charge VAT when we sell taxis?
    Do we charge VAT when we sell taxis?..Q. We run a taxi business and own six cars. We are about to sell two cars to another taxi firm and are not sure whether we should charge VAT on the sale? A. The answer here is “it depends”. If you purchased the vehicles without being charged VAT, which would be the case with most second-hand vehicles, you will not charge VAT when you sell them. If you make a profit on the sale, which is unlikely with cars because of depreciation, then output tax must be declared on any...
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  • Tips & Advice VAT - Converting a commercial vehicle: a VAT problem?
    Your business purchased a commercial vehicle for £60,000 plus VAT and claimed input tax on the purchase. You’re now spending £3,000 plus VAT to add rear seats and windows to the vehicle. Does this create issues?
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  • Tips & Advice VAT - Reclaiming VAT on business cars
    If you purchase a car for your business, you can only reclaim the VAT if you meet tough conditions. For small businesses, the challenge can often be proving that these have been met. How can you ensure that you don’t miss out?
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  • Tips & Advice VAT - Buying or selling a commercial vehicle
    What is the default VAT position when your business buys a new commercial vehicle and are there alternative VAT treatments that you can take advantage of where it is second hand?
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  • Tips & Advice VAT - Broadsteady Ltd v Revenue and Customs [2016] UKFTT 96 (TC). Cars
    Broadsteady Ltd v Revenue and Customs [2016] UKFTT 96 (TC). Cars..The case. This was an appeal against an assessment by HMRC for output tax due on motoring scale charges on two vehicles. Essentially the issues in this appeal were whether the vehicles were allocated to the individuals concerned, and if so whether there was any private mileage. The facts. Broadsteady (B) argued that the vehicles in question were not allocated to a specific employee and were in fact pool cars used by sales reps. HMRC did not dispute...
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  • Tips & Advice VAT - Selling a business-owned car
    Like most businesses yours owns several cars which it makes available to key employees. But when they come to sell them the VAT position can be very confusing - so what VAT is actually due?
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  • Tips & Advice VAT - Going electric? The tax breaks
    The government encourages the use of electric and hybrid cars through the use of tax breaks. But what concessions does the VATman actually allow and what are some of the common misconceptions?
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  • Tips & Advice VAT - Claim the VAT on commercial vehicles
    You probably know that the rules on recovering the VAT on cars are notoriously complicated. But you’d always assumed they are much simpler when it comes to commercial vehicles. Are they?
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  • Tips & Advice VAT - VAT due on demo cars?
    If a car dealership allows private use of demonstrator cars, it has to account for VAT on the private use. The calculations can be complex, but is there a simpler method?
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  • Tips & Advice VAT - VAT BAK on your number plate?
    You’ve always fancied a private plate and as a bonus you’ve heard that you can claim the VAT back on the purchase price. But is this really true and if so in what circumstances can you claim the VAT back?
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1 to 10 of 15 articles