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Hi,
My boyfriend works for his brother who has his own carpentry company.
In 2005 his boss, who is his brother convinced him to buy a Landcrusier and register it in the company name. My boyfriend pays back the €35,000 loan for the vehicle and pays the road tax but it is registered in his brothers name. When he bought it his brother told him that he would claim back the VAT and refund my boyfriend the money but now he keeps making excuses not to give it to him. How much would he be able to claim back and is there any restrictions on this, like if he goes to sell it in a few years does this need to be repaid?
I’m open to correction here but; If the car belongs to the company but your boyfriend makes the repayments then he is loaning money to the company. If he is a director then this money can be repaid tax-free. If not he is still owed the money but I'm not sure when the tax implications are. I don't see how BIK does not come into the equation here.Hi,
My boyfriend works for his brother who has his own carpentry company.
In 2005 his boss, who is his brother convinced him to buy a Landcrusier and register it in the company name. My boyfriend pays back the €35,000 loan for the vehicle and pays the road tax but it is registered in his brothers name. When he bought it his brother told him that he would claim back the VAT and refund my boyfriend the money but now he keeps making excuses not to give it to him. How much would he be able to claim back and is there any restrictions on this, like if he goes to sell it in a few years does this need to be repaid?
hi im just wondering can you claim vat back on a company commercial vehicle thats you bought second hand or does it have to be brand new? this may be a stupid question but im a novice in regards to this subject!
Is it not possible to claim the VAT back even if there is some personal use? For example, buy the commercial vehicle for business use, claim the VAT back, but also pay the 5% BIK for the personal use....
(D) it's use is solely for the business
Is it not possible to claim the VAT back even if there is some personal use? For example, buy the commercial vehicle for business use, claim the VAT back, but also pay the 5% BIK for the personal use.
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