Buying 2nd Hand EV Through a Limited Company

A99_01

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Hi - with the long lead time on Electric Vehicles at present (some garages are quoting delivery in Q1'2023 for new models) I am looking at buying a used EV. They are alot cheaper in the north & the price range I am looking at would be zero VRT.

Has anyone else bought a used EV in Ireland / North through their company & is there anything I would need to be aware of ?

Thanks in advance
 
Prices are similar enough for new EVs as the normal distorting effect of VRT doesn't apply. Haven't done extensive price research, but I wouldn't be surprised if it was bit cheaper up North for used vehicles. It invariably is for ICE vehicles.
 
I bought a demo model Leaf from Northern Ireland through the company. Nothing specific to be aware of. It was pre-Brexit though so you just need to watch out for whether import duty and VAT might apply, lots of threads here discussing that though.
 
Thanks Zenith63
From what I have seen there are savings to be made. There is no VRT on what I am looking for, just curious in your situation did your purchase include VAT & did you reclaim the vat ?
 
Thanks Zenith63
From what I have seen there are savings to be made. There is no VRT on what I am looking for, just curious in your situation did your purchase include VAT & did you reclaim the vat ?
Yes VAT was due in my case because the car was less than 6 months old. It ended up being a bit of a mess because firstly there is a mistake in how they handle VAT at the VRT office so you ended up paying Irish VAT on the UK VAT portion of the invoice, and because I wanted to make use of the 20% of the VAT you can reclaim on a work-purposes EV. In retrospect I'd have saved a lot of hassle just leaving the car with the garage a couple more months until it was older than 6 months.

So I ended up paying VAT up North, then when I imported it here there was something like €25 VRT but also VAT on the full purchase amount (including the UK VAT portion), then the garage up North refunded us the UK VAT (after they had proof we'd paid the VAT down here), then claimed back 20% of the Irish VAT paid because you can do this with work-purposes EVs and finally hassled Revenue for a refund of the Irish VAT they charged us on the UK VAT which was a breach of the EU rules at the time.

No reason you should have as much fun as I did with it, provided you check very carefully the new rules about importing from NI post-Brexit.

FWIW though yes based on my numbers there is a significant saving to buying an EV through the company and letting it pay for maintenance, tax, insurance and depreciation. Though the depreciation benefit is less of an incentive at the moment with cars in general but especially EVs depreciating so little. Two years on mine appears not to have depreciated at all, yet.

What are you thinking of buying out of interest? Your first EV?
 
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