I bought a vehicle with no VAT when I wasn’t VAT registered.

I’m now VAT registered and about ready to sell it.

Question – will I be liable for VAT if I offer it as ‘without VAT’ or do I need to sell it with VAT?

Cheers.

ask your accountant.

Oh, sorry, I hear he’s crap 😛

K’off al – he’s ok, just a bit slow…………

Double check this with someone who knows but…

I bought a vehicle with no VAT when I wasn’t VAT registered.

…means that you bought it used, right? And if there was no VAT, then that means (one of) the previous owner(s) paid VAT on it. So there’s no more VAT to pay or collect (same way as VAT-registered car dealer doesn’t charge VAT on previously VAT-paid used cars), right?

Are you sure there was no VAT on it when you bought it (or just that you weren’t registered, so couldn’t claim it back)

If there wasn’t any VAT charged when you bought it, then you can’t charge VAT on it when you sell it*

*unless you are selling it at a profit, then you use the VAT Margin Scheme.

On registration for VAT you should have reclaimed your VAT for the last 4 years on goods and assets, 6 months for services. If you didn’t you would be making less profit on all future sales or having to increase your sales prices making you uncompetitive.
Look here
Your van would now be sold with VAT on it, if you didn’t claim the VAT back on registration then contact HMRC and submit VAT form 652 to reclaim the VAT. Not sure how long you can carry this back after registration so you will need to contact HMRC as I assume you won’t subscribe to anything like TaxWise.
Get a proper accountant this should have been done for you already.

Craigxxl. He said he bought it with No VAT.

If that’s correct, then there was no VAT to claim back. And he can’t sell it with VAT.

He will need to check the invoice for the van if bought from a trader as they will probably have been VAT registered and just not shown the VAT in the price with TAFKAS not been registered at the time.

If there was no VAT on the purchase then he could just sell it free of VAT.

Either way he still needs a proper accountant.

I am lead to believe if bought without VAT then when sold no VAT will be charged.
I bought with VAT added and sold without VAT added due to not being VAT registered.

Bren2709, you are correct that not been VAT registered you can’t claim the VAT that you paid and because your not registered then you don’t charge VAT on the Vatable sale.

Craig. I backdated my VAT thanks, I’m quite capable of filing a VAT return. The truck was sold with no VAT, of that I am also sure. I will also trawl through the HMRC website and download any relevant docs, as I always do. It was just a quick question that I thought I might get a suitable answer to. My gut feeling was that I wouldnt need to add VAT.

No need to add vat as you haven’t claimed VAT on it and you haven’t added value to it either.

You can’t add VAT to something you haven’t reclaimed on – period.
You are only obliged to add VAT if you have reclaimed the portion YOU paid out originally.
Also IF you didn’t pay then none can be added as this is actually an offence in the same way reclaiming VAT NOT paid out is.

Good stuff – didn’t want to add it, would make it harder to sell.

Regardless of the vat issue, its only worth what it’s worth, not what it’s worth, plus 20%.

No, it’s worth whatever I can get for it.

And either a) Not having to show a price plus VAT, or b) dividing whatever I manage to get for it by 1.2 – is all going to make it easier to sell and better for my pocket.

If it’s worth £10k, then I would damn well try and get £10k plus VAT. Not an issue now though, I just try and sell it for £10k.

More to the point, what are you replacing it with?

We’ve had this on the Ranger/Isuzu thread – wanted a 2012 Ranger, but too dear, so will be a Navara I think. I’ll be sad to see mine go though – has been a cracking truck.

Used to play a version of bullshit bingo with those kind of vehicles, purely based on the ridiculous names they all have. I swear to god, it’s only a matter of time before one comes emblazoned with horse cock in foot high lettering. On that glorious day, I will finally be able to shout house 😆

it’s only a matter of time before one comes emblazoned with horse cock in foot high lettering

My money is on ‘Bully Rammer’

Mmmmm silver – ex fleet perhaps ?

Bland tastic !

– once had an escort in that colour – i deemed it the invisicar – back when escorts were common used to loose it in car parks and folk used to pull out on it all the time !

Eh? No, not ex-fleet.

I have to have a light colour for working on motorways and this particular vehicle looks best in silver anyway.

What awesome piece of machinery do you drive?

Blue white and orange ( rusty) but means i dont have to worry about scratching it or denting on the narrow roads and dirt tracks round here when cars seem to think its the a92 and can do 70/80 no bother – i just head for the ditch

Mrs has a blandsmobile silver golf which i hate but it was cheap ex fleet ! same with my van which is being used less and less so thinking of replacing it with something to tow the above once i eventually take it off the road to use at organised off road trials.

Probably sounded a bit harsh earlier but i really hate silver cars 🙂

Silver is marginally better than white but cant you have red or something equally bright? That would stand out and be noticable on motorways rather than blending into the road ?

Conversely, I hate red cars – not many look good in red and unfortunately I can’t afford a Ferrari 😉

Aye not a huge Red car fan but boy at work has a 59 plate red l200 barbarian and it looks good and he has had minimal problems with it bar servicing it and like you a freezing diesel line in last winters -20 in aberdeenshire. Spends most of its time towing big trailers of heavy stuff between work sites

It would be High on list of replacements for the van as itll tow a trailer and 90 no sweat…. Although for the same cash my prefered choice would be a sorted classic series 2 or 3 but thatll not be suitable for you 🙂

cant you have red or something equally bright?

Red cars are much less visible at night, which is why fire enginer aren’t painted red any more.

(Source: man down the pub).

Are they white all over now ? First time i saw bruneep and his lot in their white firetrucks nd their wierd sirens i thought thats some **** up shit – they sure as hell dont stand out as much in day time traffic !

Not a big fan of L200’s in general anyway, but to cap it off for me is the low down driving position. It’s like being sat in a car in a 4×4 and doesn’t feel right.

Didn’t know we now had white firetrucks – I only see red ones