Thread Tools Search this Thread
Old 02 July 2013, 10:35   #1
Country: UK - England
Town: Dorset & Hants
Boat name: Streaker/Orange
Make: Avon/Ribcraft
Length: 4m +
Engine: 50Yam/25 Mariner
Join Date: Apr 2007
Posts: 5,551
VAT question on buying 'stuff'

A VAT question Ö

Iím looking to buy a Jetski that was sold from new to a VAT registered company - (so essentially they didnít pay any VAT) , say it cost £9k new in 2009 - I buy it for say 4k - who pays the VAT and on what ?

PeterM is offline   Reply With Quote
Old 02 July 2013, 10:55   #2
Country: UK - England
Town: Mighty Penryn
Boat name: Little Joe.
Make: Avon Searider
Length: 4m +
Engine: Honda BF50
Join Date: Aug 2005
Posts: 8,840
They paid VAT on the ski and then reclaimed it on their next VAT return. This leaves the item 'Not VAT paid'. VAT will be payable on the sale price.

Mollers is offline   Reply With Quote
Old 02 July 2013, 11:02   #3
Country: UK - Scotland
Town: north ayrshire
Boat name: charlie girl
Make: reiver 3.8/regal3760
Length: 10m +
Engine: 40hp 2st 2x6lp 315
Join Date: Jul 2009
Posts: 1,699
the vat should be paid by the company as its part of their sales,if you negotiate a price its a vat inclusive price just the same as buying any large item.

there is vat included in almost everything you buy but its usually not shown to save complicating things you just pay a vat inclusive price

if your worried ask them to state on the invoice that it is vat inclusive & just make sure there is a vat no on the invoice
beamishken is offline   Reply With Quote
Old 02 July 2013, 11:05   #4
Country: UK - England
Town: Sussex
Boat name: Bombard, Y-162
Make: Aerotec 380, Y-Class
Length: 3m +
Engine: Mercury Mariner 15hp
Join Date: Jul 2010
Posts: 2,779
As Mollers says - they will have to account for VAT and will pass the VAT on to HMRC when it is sold but you will pay it effectively.

If they paid £9000 net then VAT on top was £1800.

Or if it was £9000 gross then the VAT element was £1500.

If they sell it to you for £4000 retail then the VAT element of this will be £667.

If it's £4000 net you need to add £800.

This is all at current rates (20%).
Max... is offline   Reply With Quote
Old 02 July 2013, 11:06   #5
RIBnet supporter
C2 RIBS's Avatar
Country: UK - England
Town: Hants
Boat name: Gemineye
Make: Ribeye S850 charter
Length: 8m +
Engine: 300hp
MMSI: 235097445
Join Date: Sep 2007
Posts: 3,029
Agree company can do it two ways- sell at a price inc VAT or sell at a price plus VAT. If you are not VAT registered you need inc VAT as a sales price that way the company have to settle the VAT on their returns.
Rib charter and Rib hire with
C2 RIBS is offline   Reply With Quote
Old 02 July 2013, 12:05   #6
Country: UK - England
Town: N. Devon
Boat name: Nutkin Too
Make: X-Pro Defender
Length: 5m +
Engine: Outboard, Suzuki 90
MMSI: 235095884
Join Date: Dec 2008
Posts: 1,379
So long as the invoice is from said company then the above applies.

The company could have sold the item to one of their staff or directors for a tenner who then sells it to you, private sale, no vat.

West Country Rules


Bude Dive Club -
treerat is offline   Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -5. The time now is 19:06.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.