“VAT Qualifying”

[AndyC_123]

Stupid question alert.

What’s the relevance of VAT qualifying when it comes to second hand supercars?

We claim the vat back on our commercial vehicles but might be a bit harder to tell hmrc that your Ferrari is used as a van?

Cheers!

[Blib]

250 GT SWB?

[Doofus]

It's been owned by a VAT registrrdd business (or businesses) since new. If you buy it for business purposes, you can claim back the VAT, but if you buy it for personal use, they'll add 20% to the price and you can't claim anything back.

In simple terms...

[The Rotrex Kid]

Probably been used as hire vehicles.

[21ATS]

It's attractive for export purposes or if you're in a position where buying through a VAT registered business is viable or relevant/

[stuartmmcfc]

Ex-motability stock

[Djit]

…or financing

[JimmyConwayNW]

Doofus said:

It's been owned by a VAT registrrdd business (or businesses) since new. If you buy it for business purposes, you can claim back the VAT, but if you buy it for personal use, they'll add 20% to the price and you can't claim anything back.

In simple terms...

Its not add 20% to the price. Its the advertised price including vat but that 20% if you can offset it and avoid a HMRC inspection is a good chunk of saving if purchasing / financing through a company.

Its incredibly attractive to export market. A VAT Q Urus / 911 Turbo S / G63 etc will sell far, far quicker than a VAT margin car in my experience.

[Lee Jones Jnr]

AndyC_123 said:

Stupid question alert.

What’s the relevance of VAT qualifying when it comes to second hand supercars?

We claim the vat back on our commercial vehicles but might be a bit harder to tell hmrc that your Ferrari is used as a van?

Cheers!

Not necessarily

[andrew]

Lee Jones Jnr said:

AndyC_123 said:

Stupid question alert.

What’s the relevance of VAT qualifying when it comes to second hand supercars?

We claim the vat back on our commercial vehicles but might be a bit harder to tell hmrc that your Ferrari is used as a van?

Cheers!

Not necessarily

maranello's attempt to outdo stuttgart's latest oversized in-car screens spotted disguised on secret test