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Posted Sun, 10 Mar 2024 13:38:01 GMT by Nazia Rafiq
Hi I am operating a rent a car business and registered with flat rate vat. It will be my second VAT return and I bought cars for my business. My question is can I reclaim input VAT related to the car purchase as these are capital asset?
Posted Tue, 12 Mar 2024 13:40:09 GMT by HMRC Admin 19 Response
Hi,

You can see the guidance below which defines capital expenditure goods and whether you can then recover the VAT as input tax:

Capital expenditure goods

Thank you.

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