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Farm Machinery
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Vat help on a machine
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<blockquote data-quote="Clive" data-source="post: 8033270" data-attributes="member: 6"><p>VAT must bee applied to any VAT qualifying goods or services sold if you are a vat registered business </p><p></p><p>you do not need to add vat to anything sold as an individual that was purchased / owned outside of the business </p><p></p><p>so imo</p><p></p><p>sell the old trailer you own without vat - its a private sale - make that clear to a buyer as it also changes his rights re warranty </p><p></p><p>buy the new one and reclaim the vat </p><p></p><p>if you put the funds of the old trailer into the business it is capital introduced for eoy accounts</p></blockquote><p></p>
[QUOTE="Clive, post: 8033270, member: 6"] VAT must bee applied to any VAT qualifying goods or services sold if you are a vat registered business you do not need to add vat to anything sold as an individual that was purchased / owned outside of the business so imo sell the old trailer you own without vat - its a private sale - make that clear to a buyer as it also changes his rights re warranty buy the new one and reclaim the vat if you put the funds of the old trailer into the business it is capital introduced for eoy accounts [/QUOTE]
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Farm Machinery
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Vat help on a machine
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