I am self-employed in a secondary occupation and subject to VAT.
Subject: the following entry for the purchase of a passenger car (20% professional use %)
I am entering this expense for a total amount of €42,500.00 (excl. VAT €35,123.97) as an investment in the category Passenger car. The supplier is , a Belgian
Hi,That's absolutely right! You can reclaim the vAT immediately and write off the costs excl. VAT! Just one question: why are you entering this invoice into your accounts a year later? Because if you already had it before you started your business, I don't think you can enter this car at its purchase price, but you have to take the current market value (second-hand).
Regards, Ad.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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