jg0407

Hey guys, wanted to get some clarification on claiming VAT for an electric vehicle. I have a business contract hire and pay a monthly lease fee with vat each month. My accountant has said that I won't be able to claim back the 50% for the initial deposit and monthly lease payments because the car is technically owned by the lease company. From what I've read online and saw from different places this doesn't seem to match and I was in the thinking that it would be ok for me to reclaim that 50% when the time came. They mentioned if it was PCP it would be ok as I'd technically own it, but because the hire agreement means it's not a "business asset" this isn't possible. Would love to get further clarification on this if possible, Many thanks,