A vehicle can be a van for VAT reclaim and a car for BIK taxation, despite both falling under HMRC. I would be almost certain that the new multivan would be a car for both, as I don't believe it's being marketed as a commercial vehicle. I would be happy to be proved wrong on this as would consider one myself if I thought I could claim through my company.
I'm a sole trader, so it works a little differently for me.
When I had my Amorok, I claimed the VAT back off the purchase price, but then was liable for the VAT on the sale price, so only saved the VAT on the depreciation, which wasn't a whole lot.
With the Caravelle, it was used, and being a 'car' there was no VAT to reclaim. The screen price was the price. Not plus VAT.
As far as tax goes, I simply put 80% of the vehicles total purchase and running costs against business use on my tax return as expenses. I can claim the VAT back on parts and servicing, but I don't on fuel. I'm told that opens a whole new can of worms.
When I had my Amorok, I claimed the VAT back off the purchase price, but then was liable for the VAT on the sale price, so only saved the VAT on the depreciation, which wasn't a whole lot.
With the Caravelle, it was used, and being a 'car' there was no VAT to reclaim. The screen price was the price. Not plus VAT.
As far as tax goes, I simply put 80% of the vehicles total purchase and running costs against business use on my tax return as expenses. I can claim the VAT back on parts and servicing, but I don't on fuel. I'm told that opens a whole new can of worms.
Thanks guys.
The multilane is being sold by VW commercial , not normal retail.
I have asked my accountant who will get back to me next week but initially didn't see it as a problem.
If you declare its solely for business then I believe you can claim all.
If used for private as well then you would need to split it as per dubber above.
I think it all depends on each individual use, a mini cab (executive hire at VW prices!) could claim the lot I would have thought
I have other cars to use privately .
I will post once the accountant replies fully, cheers
The multilane is being sold by VW commercial , not normal retail.
I have asked my accountant who will get back to me next week but initially didn't see it as a problem.
If you declare its solely for business then I believe you can claim all.
If used for private as well then you would need to split it as per dubber above.
I think it all depends on each individual use, a mini cab (executive hire at VW prices!) could claim the lot I would have thought
I have other cars to use privately .
I will post once the accountant replies fully, cheers
