Vat

Ginger83

Hi, I am planning to buy a commercial van for personal use soon. A friend has mentioned registering my name as a company to claim the vat back on it. Is this possible?

Sparky

Very dodgy if you ask me.
You need a vat number.

ejmaztec

Probably cost you more to set up a company than the Vat that you would save and you would also need to comply with the requirements of actually having a business.

mikemac

I'm sure Customs will see straight throught it.
They're no fools and this has probably been attempted a hundred times before

kluivert

You dont need to set up a company to regsiter for vat, you have to regsiter for vat with the revenue commissioners.

Have you got an actually business to regsiter for vat, if not you cant do this.

Revenue have a rule where you de-register for vat, they look at your last two years of returns and if you have claimed back more vat than paid over then they reclaim all the vat for that period paid to you.

Then you ll have the revenue sherriff around and then thats when things start to get interesting

bazz26

kluivert wrote:

You dont need to set up a company to regsiter for vat, you have to regsiter for vat with the revenue commissioners.

Have you got an actually business to regsiter for vat, if not you cant do this.

Revenue have a rule where you de-register for vat, they look at your last two years of returns and if you have claimed back more vat than paid over then they reclaim all the vat for that period paid to you.

Then you ll have the revenue sherriff around and then thats when things start to get interesting

Yes, that is pretty much it.

If it was as simple as just setting up a dummy company name we would all own our own companies and nobody would be paing VAT.