VAT implications of commercial vehicle for private use
Discussion
Hi all, I'm considering purchasing an 18t ex-removals lorry for conversion to a race van. Upon purchase I would be re registering the vehicle from it's commercial status to private, either registering as private use HGV or as a motorhome if it's eligible (which I think it would be as it would be converted with all amenities).
I will be purchasing from a VAT registered business who will add VAT to the sale price of the vehicle, I am unsure if I am liable for the tax being an entirely private enterprise with no commercial purpose. Am I liable for the VAT initially and would I be eligible to claim it back in any way?
Thanks for any response. Mike
I will be purchasing from a VAT registered business who will add VAT to the sale price of the vehicle, I am unsure if I am liable for the tax being an entirely private enterprise with no commercial purpose. Am I liable for the VAT initially and would I be eligible to claim it back in any way?
Thanks for any response. Mike
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