Reclaiming VAT for personal car?
Discussion
I suspect the answer to this is no.. but....
My company pays a certain amount per month in lieu of a company car. Am I able to reclaim partial VAT on things I pay for like tyres, servicing, insurance etc, as probably 30-50% of my miles are work miles? If so how would I go about doing it?
My company pays a certain amount per month in lieu of a company car. Am I able to reclaim partial VAT on things I pay for like tyres, servicing, insurance etc, as probably 30-50% of my miles are work miles? If so how would I go about doing it?
Doesn't matter.
If you use a car for business purposes, the business can reclaim all the VAT on the fuel costs of that car but will have to pay back VAT using the Fuel Scale Charge appropriate to the CO2 rating of the car.
If the Fuel Scale Charge is greater than the VAT reclaimed, then the best option is to not bother making the claim. If, even with the Fuel Scale Charge there is still an element of VAT to be reclaimed, then you might find it worthwhile making the claim.
If you use a car for business purposes, the business can reclaim all the VAT on the fuel costs of that car but will have to pay back VAT using the Fuel Scale Charge appropriate to the CO2 rating of the car.
If the Fuel Scale Charge is greater than the VAT reclaimed, then the best option is to not bother making the claim. If, even with the Fuel Scale Charge there is still an element of VAT to be reclaimed, then you might find it worthwhile making the claim.
Eric Mc said:
Doesn't matter.
If you use a car for business purposes, the business can reclaim all the VAT on the fuel costs of that car but will have to pay back VAT using the Fuel Scale Charge appropriate to the CO2 rating of the car.
If the Fuel Scale Charge is greater than the VAT reclaimed, then the best option is to not bother making the claim. If, even with the Fuel Scale Charge there is still an element of VAT to be reclaimed, then you might find it worthwhile making the claim.
Except the OP asked if he could reclaim VAT not if his employer could reclaim any VAT.If you use a car for business purposes, the business can reclaim all the VAT on the fuel costs of that car but will have to pay back VAT using the Fuel Scale Charge appropriate to the CO2 rating of the car.
If the Fuel Scale Charge is greater than the VAT reclaimed, then the best option is to not bother making the claim. If, even with the Fuel Scale Charge there is still an element of VAT to be reclaimed, then you might find it worthwhile making the claim.
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