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Have been looking at some cars and notice that some are VAT qualifying.

Do have my own limited company VAT registered work in IT any one else bought your car this way ?

If so or know more care to explain how it works.

Thanks

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I now have mental picture of you out cruising in your Twizy on a Sunday. "Oh yeah b*****s you know you want some"

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If you are thinking of a Tesla, then forget about getting the VAT back if you buy it. However you can claim back 50% of the monthly payment if you lease it (probably). However, if you have a limited company which is making a profit, then you can claim 1st year capital allowance on an electric car. But do your research and consult your accountant.
 

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If you are thinking of a Tesla, then forget about getting the VAT back if you buy it. However you can claim back 50% of the monthly payment if you lease it (probably). However, if you have a limited company which is making a profit, then you can claim 1st year capital allowance on an electric car. But do your research and consult your accountant.
Thanks.

I just see some used cars that say VAT qualifying .

Did not know if it had be new

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Means the car has been in a company who could claim the VAT back and therefore they have to apply VAT to the sale price (usually included). If you can claim the VAT back then you can on such a used car.

But to claim the VAT back on a car is really difficult and is typically where the company is a hire car company or some other arrangement where the car is a pool car and not available for private use, and I think some motor trade situations. Either way, if you're having to ask you almost certainly don't qualify, and do you want an ex hire car?

The 100% FYA also needs to be treated with caution, you will have written the cost of the car down to zero, so when you sell it is pure profit and taxable - and you have to sell at a fair market rate so you can't buy it off your own company for peanuts.
 

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Means the car has been in a company who could claim the VAT back and therefore they have to apply VAT to the sale price (usually included). If you can claim the VAT back then you can on such a used car.

But to claim the VAT back on a car is really difficult and is typically where the company is a hire car company or some other arrangement where the car is a pool car and not available for private use, and I think some motor trade situations. Either way, if you're having to ask you almost certainly don't qualify, and do you want an ex hire car?

The 100% FYA also needs to be treated with caution, you will have written the cost of the car down to zero, so when you sell it is pure profit and taxable - and you have to sell at a fair market rate so you can't buy it off your own company for peanuts.
Sure, or if you export the car. I certainly agree about the FYA, you would for sure have to buy the car at fair market value, and that value would go back into the company as profit.
 
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