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vat on business and private fuel

Aaishaasad12y ago
hello Sir , can you please explain how the input vat and output vat will be calculated for business and private fuel by an illustration thank you
TTTax Tutor12y ago#1
Have you read the OT course notes and listened to the lectures - see chapter 25 section 4 example 5.
Aaishaasad12y ago#2
hello Sir, Actually i messed up the question i asked you with the question i actually wanted to ask .however i went through the example that you had mentioned ant that is ok to me that output on the fuel is to be accounted for by way of scale moreover kindly please explain the paragraph below which is the extract from the example 12 quoted in examiner technical article on VAT part 1. please explain the vat implications. i don't understand the reason as explained in the article. On 15 March 2013 Gwen sold a motor car for £9,600, and purchased a new motor car at a cost of £16,800. Both motor cars were used for business and private mileage, but no fuel was provided for private mileage. These figures are inclusive of VAT where applicable. explanation as in the article Input VAT would not have been recovered in respect of the motor car sold as it was not used exclusively for business purposes. Therefore, output VAT is not due on the disposal. Similarly, input VAT cannot be recovered in respect of purchase of the new motor car thanks
TTTax Tutor12y ago#3
See OT Course Notes Chapter 25 section 3 and example 4
Aaishaasad12y ago#4
hello Sir, does that mean that the input vat is recoverable for the motor car which is exclusively used for the business purpose when sold kindly explain i have already done the example in course notes but there is no replacement point kind regards
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