VAT on selling used commercial vehicle

Hi everyone,

I was wondering if anyone could tell me how vat works when selling on second hand van.
I purchased the van for 30000 plus vat a few years back. I got finance for the full amount through a finance company and they in turn paid the garage the 30000 plus vat. I reclaimed the vat on each payment i made until now. Now i am selling on the van. Now my question is: If i sell the van on for say 10000, is that 10000 inclusive of vat as i already paid vat on the whole amount or do i charge 10000 plus vat and pay the vat to revenue? I hope this makes some sort of sense

Any help would be much appreciated

sell the van for as much as you can and 21 percent of that will be vat inclusive.

jack2009 said:

sell the van for as much as you can and 21 percent of that will be vat inclusive.

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Jack2009 is correct. Whatever you get for it will be inclusive of 21% VAT

monstie said:

Hi everyone,

Now i am selling on the van. Now my question is: If i sell the van on for say 10000, is that 10000 inclusive of vat as i already paid vat on the whole amount or do i charge 10000 plus vat and pay the vat to revenue?

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If you recovered the VAT on each payment you have a lease with the finance company.
Have you finished paying the lease?
If so have you settled the lease or entered into a secondary leasing period?
If you are as a VAT registered business selling the van to another VAT registered business and the value of the van is €10,000, then the VAT is added to this amount as the VAT is not a cost to the purchaser.