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The Book-keepers Forum -> VAT, Payroll & Tax -> VAT On Commercial Van Sale
Post Info TOPIC: VAT On Commercial Van Sale
CrystalClaire


Newbie

Status: Offline
Posts: 3
Date: Tue Feb 21 10:00 2012
VAT On Commercial Van Sale
 

Hi

 

I have a client that is a LTD Company and Registered for VAT thay are selling a vehicle that when purchased had no VAT element on the invoice as it was purchased from a private individual.

 

They are now selling this vehicle and the question is: Do they now have to Rate the Vehicle for VAT As they are selling through the LTD VAT registered company?

 

Thanks

Claire



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leshoward


Veteran Member

Status: Offline
Posts: 40
Date: Tue Feb 21 16:46 2012
 

Company can use the margin scheme for a vehicle on which no VAT was charged.
Alternatively, if their customer is VAT- registered, they could choose to charge VAT.

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