General What does "Gross VAT Qualifying" mean?

[roadsterdriver]

Hi,

New to the UK. Can anyone tell mean what Gross VAT Qualifying means?

I've searched google and came up dry. Seems like VAT on cars can be a bit tricky.

Thanks.

 

[steve101]

http://www.pistonheads.com/GASSING/topic.asp?h=0&f=23&t=566642&i=20
Have a look at this link

 

[roadsterdriver]

Thanks. I already read that one. I didn't find the phrase, "Gross VAT Qualifying," in that posting. Did I miss something?

If the car I want to purchase is £9695 Gross VAT Qualifying, how much do I have to pay?

Thanks.

 

[Most Easterly Pandas]

Thanks. I already read that one. I didn't find the phrase, "Gross VAT Qualifying," in that posting. Did I miss something?

If the car I want to purchase is £9695 Gross VAT Qualifying, how much do I have to pay?

Thanks.

If that £9695 is ex VAT then it'd be plus 15% which is £11,149.25

Jon.

 

[BenP]

£9,695 Gross VAT Qualifying means you pay £9,695. The Net figure would be £8,430.43.

The 'VAT Qualifying' part means the car has always been registered to a company that is registered for VAT so the VAT is still reclaimable. Once a car has been registered to a private individual you can no longer reclaim the VAT on it - the sale becomes exempt of VAT.

Dealers advertise the fact a car is VAT qualifying as it potentially business cuustomers to that particular vehicle as they can claim the VAT back.


Ben