buisnesses are geared up to reclaim v.a.t. back on items they purchase .As i am just a normal chap who unfortunatly needed a van,and still had to pay the vat, is there anyway I can claim it back.
2006-12-15 04:53:39 · 4 answers · asked by ALLAN B 2 in Business & Finance ➔ Taxes ➔ United Kingdom
V A T is an expenditure tax which falls to be paid by the final consumer. Businesses can only claim this back because they are part of a chain between the manufacturer and the consumer.
They are allowed to claim this back because they charge it on to the next person in the chain (which may be the final consumer), usually at a higher figure because they charge on their selling price which has "added value" to their purchase price (i.e. their profit).
You are the final consumer so you have to pay the tax.
2006-12-15 11:37:59 · answer #1 · answered by tringyokel 6 · 0⤊ 0⤋
Only way you can claim it back is if you can somehow use it in your business. You could risk it and claim it back anyway but if you ever have a VAT investigation and they find out, they will really sting you!
2006-12-15 12:59:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No. There is no way to claim it back as you did not buy the van for your business.
2006-12-15 12:58:35 · answer #3 · answered by Anonymous · 1⤊ 0⤋
come to gibraltar, we are v.a.t free
2006-12-15 12:56:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋