VAT on Truck

[Woodworks]

I am not VAT registered yet but looking into it. I want to be able to use the truck for a small amount of domestic use but my book keeper thinks I can't claim any of the VAT back even though I only want to use the truck for domestic stuff for 10% of it's miles. Is there a way around this? He just said most folks claim all the VAT and don't declare any domestic use.

 

Any thoughts?

[Big J]

Get a private vehicle and your business vehicle can be 100% claimed for. Even if it's an old banger and you don't use it, you just have to demonstrate that you have access to a private vehicle.

[Ian C]

Not sure what your trying to get round?if your vat you charge vat to everyone and claim all vat expenditures back if your not vat you can't do either.

Edit: do you mean doing your own work not connected to work? If so up to you don't say anything and claim nowt back or just class everything as business.

Edited January 5, 2015 by Ian C

[Woodworks]

Not sure what your trying to get round?if your vat you charge vat to everyone and claim all vat expenditures back if your not vat you can't do either.

 

What I want to get around is not be able to claim any VAT back on a truck which will be used 90% for work. I am not VAT registered at the moment but as I understand it if I become VAT registered I can claim VAT back on purchases made over the last 5 years. Not getting 4k back on the truck might be the clincher for not becoming VAT registered.

[Ian C]

Sorry. Lost me.

[R5log]

Can't see the problem, put it in your business name and claim vat back when your registered.

Think it's 4 years not 5

[gensetsteve]

I have a feeling your accountant may be getting cars confused with commercials. I have a Vito van and claim all vat back as its for work. My landcrusiers car is also for work but I claim all the vat back. But every 3 months I have to pay about £100 for the private use ie the vat element. The LC only does low miles ea year so not really worth it but it does not long to spend £400 in vat on an old car at 20 mpg.

[Woodworks]

I have a feeling your accountant may be getting cars confused with commercials. I have a Vito van and claim all vat back as its for work. My landcrusiers car is also for work but I claim all the vat back. But every 3 months I have to pay about £100 for the private use ie the vat element. The LC only does low miles ea year so not really worth it but it does not long to spend £400 in vat on an old car at 20 mpg.

 

Ah so there is a system for using it for domestic use having put it 100% through the business.

 

Thanks Steve

[briquette_seller]

Woodworks is correct.

[niftysteve]

I am not VAT registered yet but looking into it. I want to be able to use the truck for a small amount of domestic use but my book keeper thinks I can't claim any of the VAT back even though I only want to use the truck for domestic stuff for 10% of it's miles. Is there a way around this? He just said most folks claim all the VAT and don't declare any domestic use.

 

Any thoughts?

 

i thought you can only claim the vat back if you are vat registered

if you are non vat reg then the accountant claims 100% for a commercial vehicle and less for a car as far as i can remember