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VAT ON Lease with private use

RRiya5y ago
Hello sir. If a leased asset is used for private use, only 50% of VAT is deductible, right? But if the question provides the percentage of private use, like 75%, then how much VAT will be deductible? 25% or 50% only?
RRiya5y ago#1
In a question of BPP, they deducted only 25% but in ACCA technical article where they have mentioned the private usage of 70%, they HAVE STILL DEDUCTED ONLY 50%.please tell me about the same.. AND I AM SORRY. IN PLACE OF DEDUCTED, I MEAN TO SAY ALLOWABLE INPUT VAT.
TTTax Tutor5y ago#2
The 50% rule ONLY applies to leased motor cars - is the example you refer to a different asset where the restriction would be based on the actual business / private proportions
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