Stepper wrote:
I've been kicking along as a private hire sole trader, self assessment tax payer, not VAT registered, no accountant.
I'm going to buy a new car, possibly a TX4 Euro6 and everywhere I look it says I can claim back the VAT on the purchase. It's obviously only used for work and it's a purpose built vehicle. Obviously I'll be making an investment in to my company but everywhere I look it says there is no way I can get any tax break for making this investment. Who knows anything? Thank you in advance.
You'll only Get VAT back if you become VAT registered and boy unless your a glutton for Punishment your better off out of it because then you'll need to start charging vat on all your runs, continually doing Vat returns etc, just not worth the hassle unless your a big hitter. been there got the T shirt, never again.