Claiming back VAT on cars, do you want to get VAT back on your a car purchase?
If you buy a car for business purposes, then the VAT is recoverable. But if HMRC thinks that it's not being used exclusively for business purposes, they will block your claim. In this week’s I hate numbers podcast, I am going to explain what exactly is meant by “exclusive use” and how you can prove that your car meets these requirements.
The rules around exclusive use of cars are very complicated and there are lots of grey areas where HMRC could challenge your claims. So in this podcast episode, I'm going to give you some tips on how to make sure that when buying a new or second hand vehicle for work purposes, you don't fall foul of the taxman!
What is the VAT definition of a car?
That may sound a bizarre question, but if a vehicle is not a car, it will normally be a commercial vehicle or a van. If it's a commercial vehicle or Van reclaiming VAT is easier.
Moreover, if interested in Claiming back VAT on cars , this is all explained is here for you. You will learn how it affects you, avoid confusion and overwhelm. Many businesses find themselves in the same situation, wanting to know about VAT, more particularly claiming it back. This podcast will help.
My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.
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