The BVRLA has written to HM Treasury to recommend that UK firms leasing cars should be able to lawfully and fairly reclaim 60% of the VAT paid on the finance element of the hire or lease payments.
The BVRLA has written to HM Treasury to recommend that UK firms leasing cars should be able to lawfully and fairly reclaim 60% of the VAT paid on the finance element of the hire or lease payments.
The current system, which allows businesses to reclaim 50% of the VAT will expire on 31 December 2019 and HMRC is preparing a renewal application that is expected to be submitted to the European Commission by 31 March 2019.
The BVRLA’s recommendation is based on independent and statistically unbiased research of company car drivers undertaken by YouGov Plc and Sewells Research & Insight.
