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vat receipt question

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  • 29-12-2006 8:01pm
    #1
    cantdecide
    Registered Users Posts: 11,465 ✭✭✭✭


    hello all.
    imagine you're a company exec and you're retiring and you manage to wangle the company car when you go. are you liable for the VAT that was claimed back from day one?

    imagine you're starting your own business and you're looking for a car to use in the business. can you buy a used car and claim the vat back? what if you bought it in england, brought it back and registered it. could you claim it back then?

    is there anything else you should know about vat for company cars?


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    #2
    patsyh
    Closed Accounts Posts: 161 ✭✭patsyh


    1.There would be no VAT liability as ya cant claim VAT on a car(ie seats in the back) when you buy it.There would however be a BIK liability for the employee as the employee is getting a car of the company for nothing.

    2. Ya cant claim VAT on a car.


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    #3
    hiscan
    Registered Users Posts: 1,105 ✭✭✭hiscan


    can you buy a car from company funds
    e.g. from joe bloggs ltd. company bank account?


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    #4
    cantdecide
    Registered Users Posts: 11,465 ✭✭✭✭cantdecide


    that's what i thought,
    a friend of mine who is a self employed plumber was trying to convince me that he could claim the vat back on a car if it had a diesel engine. he must be wrong then.


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    #5
    endplate
    Registered Users Posts: 991 ✭✭✭endplate


    You can claim back the VAT on the diesel alright not petrol. Spoke to an accountant about this recently and he said that (I think only applies on a new car) you can claim back VAT on €23000 of the value of the car. As far as the government is concerned if you buy a more expensive car you are treating yourself


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    #6
    kluivert
    Registered Users Posts: 2,399 ✭✭✭kluivert


    endplate wrote:
    You can claim back the VAT on the diesel alright not petrol. Spoke to an accountant about this recently and he said that (I think only applies on a new car) you can claim back VAT on €23000 of the value of the car. As far as the government is concerned if you buy a more expensive car you are treating yourself

    Your wrong.

    You cant claim the vat back on cars, only commercial vans.

    You can claim the vat back of diesel fuel. Not petrol as stated above.

    Your accountant ment that is the max value you can get in capital allowances for a car. That has nothing got to do with vat.


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    #7
    endplate
    Registered Users Posts: 991 ✭✭✭endplate


    kluivert wrote:
    Your wrong.

    You cant claim the vat back on cars, only commercial vans.

    You can claim the vat back of diesel fuel. Not petrol as stated above.

    Your accountant ment that is the max value you can get in capital allowances for a car. That has nothing got to do with vat.

    I wasn't fully wrong:D


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