Is Vat Charged On 2Nd Hand Van Sale?

HongKongphooey | 20:08 Fri 17th Jan 2014 | Business

4 Answers

My partner is selling an 04 van that is surplus to requirements in his small business. The business is VAT registered. He's just going to put a FOR SALE sign on it and stick it outside his unit. Does he have to charge the buyer VAT?

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BRIGHT SPARK

If the van was purchased through a vat registered company then yes it should be added to the invoice.

puternut

I believe if the buyer is VAT registered too then they can claim it back.

If a member of the public buys it then they cannot.

Prudie

If the van is an asset to the company rather than privately owned by your partner then yes and the sale would have to go through the books.

HongKongphooey

Question Author

Thanks guys, just what I needed to know.

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