dub-love Posted August 23, 2006 Report Share Posted August 23, 2006 (edited) If you buy a car from a auction and it is vat qualifying, is this just + vat? as it seems very vaigue as to what costs you can incur!Im sure some one will know? Edited August 23, 2006 by dub-love Quote Link to comment Share on other sites More sharing options...
Adam K Posted August 23, 2006 Report Share Posted August 23, 2006 how can they charge vat on second hand goods? Quote Link to comment Share on other sites More sharing options...
dub-love Posted August 23, 2006 Author Report Share Posted August 23, 2006 how can they charge vat on second hand goods?Thats where im stumped! It reads like your responsable for all vat from when the car was new? this is why i dont understand! style="vertical-align:middle" emoid=":wacko:" border="0" alt="wacko.gif" /> Quote Link to comment Share on other sites More sharing options...
Ramirez Posted August 23, 2006 Report Share Posted August 23, 2006 PM Tigz as I believe his R19 was from an auction. Or if you can wait a couple of days I'll speak to a mate who buys regularly from auctions.Another point, if you change the title more people will see it. Quote Link to comment Share on other sites More sharing options...
scottgroovez Posted August 23, 2006 Report Share Posted August 23, 2006 I "think" you can only be charged VAT on the profit! The VAT would have already been paid when it was new. But I'm just guessing! Quote Link to comment Share on other sites More sharing options...
Max69vk Posted August 23, 2006 Report Share Posted August 23, 2006 (edited) VAT QUALIFYING MEANS IF ITS FOR BUSINESS OR EXPORT USE (NON EURO), YOU CAN CLAIM BACK THE VAT ON THE PURCHASE PRICE.Didn't mean to write that all in caps , but couldn't be arsed to redo it! style="vertical-align:middle" emoid=":lol:" border="0" alt="laugh.gif" /> Edited August 23, 2006 by Max69vk Quote Link to comment Share on other sites More sharing options...
stig247 Posted August 24, 2006 Report Share Posted August 24, 2006 (edited) the only vehicles you usually pay VAT on at an auction is commercial vehicles and ones with delivery milage, qualifying means exactly what max69vk has said it is to help businesses who are vat registered recover the vat amount such as taxi drivers and hire companies Edited August 24, 2006 by stig247 Quote Link to comment Share on other sites More sharing options...
NBR Posted August 24, 2006 Report Share Posted August 24, 2006 You get charged VAT on second hand goods because no one has paid the VAT on it in the first place. So when its VAT qualifing what it means is that your invoice will show VAT. So what will happen is if you buy at £7000 from the auction. It will show say £6000+VAT=£7000... Its not £7000+VAT unless its a commerical vehicle. These are the general rules but it does vary from car to car so you need to listen to what the person says on the podium before the particular car goes though. style="vertical-align:middle" emoid=":)" border="0" alt="smile.gif" /> Quote Link to comment Share on other sites More sharing options...
dub-love Posted August 24, 2006 Author Report Share Posted August 24, 2006 As you said NBR! Easy way is to ask at the auction! felt a bit stupid but hey ho! Quote Link to comment Share on other sites More sharing options...
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