I have a question that I hope someone in the business can answer!
If a car dealer 'buys' a car as a demonstrator they presumably can re-claim the VAT as this is a business expense.
When they subsequently sell, being second-hand, it won't attract VAT.
Is it then reasonable to assume that the dealer will pocket the difference if they can sell at more than the new price without VAT.
Have I missed something?
If a car dealer 'buys' a car as a demonstrator they presumably can re-claim the VAT as this is a business expense.
When they subsequently sell, being second-hand, it won't attract VAT.
Is it then reasonable to assume that the dealer will pocket the difference if they can sell at more than the new price without VAT.
Have I missed something?
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