V.a.t. on older trucks why?
Discussion
Sorry for being a bit stupid. But i have spent the last few weeks looking for an early Gen 3 Ram 4x4 in black. I know its a bit specific but thats what i want. Everyone i have come across has v.a.t attached to it. Why is there v.a.t still attached to vehicles this age??. Awaits to be educated.
HD Adam said:
A lot of trucks were bought by people as a company car as the personal tax rates were much lower for a commercial vehicle over something like a Range Rover.
These businesses would have claimed the VAT back on the initial purchase so VAT has never been charged on particular truck.
When they come to sell it, the VAT has to be added.
As far as the price goes though, it needs to reflect the current market rate for that vehicle. If that year and spec truck is worth 10k in total, then they won't get a buyer if its 10k plus VAT.
You need to ask them to reduce the asking price to 8.5k so when the VAT is added, the total is 10k.
I had seen a couple with v.a.t. added to the price,which takes them above their value. No one was willing to accomodate on price. I thought that with the way the market is at the moment.(And especially large V8 engined trucks)That a few would be a bit willing to fluctuate on price. These businesses would have claimed the VAT back on the initial purchase so VAT has never been charged on particular truck.
When they come to sell it, the VAT has to be added.
As far as the price goes though, it needs to reflect the current market rate for that vehicle. If that year and spec truck is worth 10k in total, then they won't get a buyer if its 10k plus VAT.
You need to ask them to reduce the asking price to 8.5k so when the VAT is added, the total is 10k.
Edited by HD Adam on Sunday 10th May 10:44
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