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Where have all the good or decent dealers gone?

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TooMany2cvs
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Joined: 23 Jul 2013
Posts: 150
Location: Rural Herefordshire

PostPosted: Sun Jan 19, 2014 20:30    Post subject: Reply with quote

johndps wrote:
The law defines trade as someone who regularly sells cars for a profit.


With the intent to make a profit. The actual success or otherwise at doing so is another matter...

Quote:
Regs again...VAT.
Crazy example...buy a car for 1000, sell it for 2000. You pay vat on the profit...20% of a grand which is 200.
Fair enough, the regs are there.
BUT...buy the car for 1000, spend 1000 on new gearbox, sell for 2000.
Guess how much you pay in vat? Yup, same 20% of the 1000 profit between the buy price and the sell price. 200.


But you can reclaim any VAT you paid on the gearbox.
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PostPosted: Sun Jan 19, 2014 20:30    Post subject: Google Ads keep the POCUK free to join!


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