vat deferall on purchases

[Stephen Blair]

hi guys i have just sold my valmet, there is a lot of vat money involved so the buyer is looking to defer the vat. i managed this when i bought some kit through a finance company, they gave me a vat receipt with the total on it, i claimed it back first and they took it off me by my 3rd payment, it kept my cash flow...can this be done on a private sale??i havent contacted the customs yet, but the buyer is looking into it, i just wondered if you guys had any experience on this...all advice welcome:001_smile:

[Curvey Burrs]

Great news you got your valmet sold, cant imagine it would make any difference your vat reg'd your charging vat, as long as you get your money in the end. Bet your wife is out spending the money now!

[Robert_S]

what toy are you buying now stevie? i await for pictures with tense anticipation:001_smile:

[Stephen Blair]

when the money is in the bank then i will relax guys. i have a long list of maintenance and stuff needing done that hasnt been due to lack of funds, now it means i can get all the little annoyances sorted without hitting the overdraft, fingers crossed

[Simon Rotheram]

Great news mate should be a "load lifted" off your mind!

 

Dont see why you cant do it as long as everyone pays claims vat in the end? - I'd speak to customs though pal.

[skyhuck]

My bank did that with me when I bought my mog, basically the bank paid the VAT for me, then I paid them once I had claimed it back.

 

The VAT man will not wait.

[Stephen Blair]

i think you are right dave, i will leave it up to the buyer, i will get the full amount and pay mr vatman, we have got on great for years, i dont want to get on his wrongside now

[skyhuck]

A tip I was told a few years back, is if you are making a large purchase ring the VAT people and tell them.

 

If you claim back an unusually large amount it can trigger an inspection, if you ring them and just explain you have bought some new kit, they will not see it as unusual.

[Stephen Blair]

A tip I was told a few years back, is if you are making a large purchase ring the VAT people and tell them.

 

If you claim back an unusually large amount it can trigger an inspection, if you ring them and just explain you have bought some new kit, they will not see it as unusual.

 

cool, but the last time i had a vat inspection they gave me another 1100quid..she was a lovely lady:001_cool:

[skyhuck]

cool, but the last time i had a vat inspection they gave me another 1100quid..she was a lovely lady:001_cool:

 

I've been registered for over 9 years and never had an inspection.