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Post Info TOPIC: Hire purchase agreements


Member

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Hire purchase agreements


I am working for a client that has hire purchase agreements. I just want to check that what I have done is correct. I have put a vat only invoice on the system as you can claim the vat back in one go.

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Master Book-keeper

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Hi Julie
You don't state what vat scheme, nor the value of the Hp agreements, so assuming they are above £2k and assumin they are actually all HP and not some hybrid/lease/other (given some aren't clear until you read the small print) then yes.

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Member

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Thank you for your reply. The vat scheme is accrual and the amount is £77k plus vat.

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Guru

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When I see £77000 for some crazy reason I always think of the Audi A7 with all the bells whistles and beautiful wheels - is it a Audi A7 lol?

By the sounds of what you're saying as long as it is a 'proper' VAT invoice you're good to go.

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Master Book-keeper

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abacus12345 wrote:

When I see £77000 for some crazy reason I always think of the Audi A7 with all the bells whistles and beautiful wheels - is it a Audi A7 lol?


 I had a long ride in one of those a couple of years ago, and boy was that luxurious. A lovely car and if I could ever afford a luxury car, that would be my choice.  I don't rate beamers or mercs at all.  The only other time I've been in an audi was an A4 many years ago, driving a colleague's round the block.  I set off, forgot the roundabout just ahead, thought $%£*& and braked hard.  The car stopped on a sixpence with no skidding whatsoever, wow, I was mightily impressed. It was lovely to drive as well.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Guru

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Very nice. I must admit I do like the shape of the new BMW - especially in white. If you do get the 4.0 litre John, it might be worth claiming for the petrol rather than MAP lol.

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Johnny  - Owner of an overly-active keyboard. 

A man who can read, yet doesn't, is in no way wiser than a man who can't.

 



Member

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Posts: 6
Date:

Thank you for your response. The paperwork received is from the finance company and it shows their VAT number and states the invoice is for VAT purposes only.



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