quick VAT question

[daveindales]

I'm VAT registered and am interested in buying a commercial vehicle, which is being sold with no VAT (L200). My question is: when I eventually sell it, do I charge VAT on it?

[Steve Bullman]

yes you do

[daveindales]

I'm a bit confused, as I bought an L200 (no VAT on it), before I was VAT registered. If I sell that, according to HMRC I don't have to pay VAT on that. Would ring them again, but they close at 6.

[swinny]

No you dont. If you didnt pay vat on it... it doesnt get sold with vat regardless.... thats what i was told

[daveindales]

I'm setting off early tomorrow, so anymore opinions???

[swinny]

What year you going for dave?

 

You going to tipper it? Or use normal system?

 

Hope your well

[daveindales]

Well, its the same as my old one, but 2008, with 33000 on the clock. Mines 2004, with about 80000. As you know, not too bothered about anything too fancy, as I only end up scratching them. How's yours going?

[swinny]

Mines doing ok. 4wd playing up but havet had it checked. On my to do list lol

 

On the whole really happy with it even been using it for certain jobs for chipping into etc

 

Im happy.

 

Hows the weather up your neck of the woods?

 

2008 is that a newer looking one?

[Steve Bullman]

Sorry I was wrong it appears....although its not quite as simple as just not charging vat from what i've just been reading at the link below.

 

Seems like it would be a whole lot simpler to just sell it with the VAT on though, thats what I would do I think.

 

Need to charge VAT on sale of van?? Not claimed on purchase | AccountingWEB

[daveindales]

newer one is supposed to be better on diesel. Weather is wet at moment. On the VAT thing I've been doing a bit more research, and I don't think I would have to charge VAT if I sold it, only on any profit I made from the sale (hardly likely)