vat query on vehicle

[daveindales]

I may be selling my L200 that I bought before going vat registered. The l200 was bought with no vat on it. Now that I am vat registered, do I charge vat on it when I sell It?

Have loked on revenue and customs site but still a bit confused. Anyone any thoughts?

[Tom D]

It depends wethe it is listed as a business asset, if you claim depreciation on it then you maybe need to charge VAT. If it is your personal vehicle then you may be able to sell it privately.

[samarb]

yes you have to charge VAT on it (pending bought for business). your accountant should of claimed the VAT back on it when you got VAT reg as the can go back a few years and if for business use solely they should of 100% deducted it. no probs just sell to fellow businessmen.

[daveindales]

is listed as a business asset. accountant says I need to charge vat on it, which seems a bit unfair as I paid no vat when I bought it

[Yorkshireman]

if you arent making a profit on the vehicle ie selling for more than you paid & you havent claimed any vat on it then it comes under an exemption so no vat to charge

cant remember the official term but HMRc will tell you if you ring them