Re: selling cars/when are you a dealer Archived Message
Posted by Peter Warman on November 23, 2009, 9:54 am, in reply to "Re: selling cars/when are you a dealer"
Hi Tony You are correct You have to pay VAT on the difference between the buying price and the selling price no matter how much you have spent on the vehicle Your new engine will be part of your overall expenses for parts at the end of the year and you can claim the VAT back on the engine If you are a sole trader I am not quite sure how you can separate the car sales from the workshop unless you have two trading names and two vat numbers Peter
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