ARE HIRE PURCHASE AGREEMENTS CATEGORISED AS GOODS OR SERVICES FOR VAT PURPOSES?
I have a client who bought a van on HP for £50,000 + VAT. They recovered the £10,000 of VAT up front on the basis that it should be treated as a supply of goods. HMRC have queried the client’s VAT recovery because the agreement refers to ‘period of hire’ and has an ‘option to […]
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