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Post Info TOPIC: Hire purchase agreements


Member

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Hire purchase agreements


I am working for a client that has hire purchase agreements. I just want to check that what I have done is correct. I have put a vat only invoice on the system as you can claim the vat back in one go.

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Master Book-keeper

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Hi Julie
You don't state what vat scheme, nor the value of the Hp agreements, so assuming they are above £2k and assumin they are actually all HP and not some hybrid/lease/other (given some aren't clear until you read the small print) then yes.

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Joanne††

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Member

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Thank you for your reply. The vat scheme is accrual and the amount is £77k plus vat.

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Guru

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When I see £77000 for some crazy reason I always think of the Audi A7 with all the bells whistles and beautiful wheels - is it a Audi A7 lol?

By the sounds of what you're saying as long as it is a 'proper' VAT invoice you're good to go.

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Johnny† -†Owner of an overly-active keyboard.†

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Master Book-keeper

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abacus12345 wrote:

When I see £77000 for some crazy reason I always think of the Audi A7 with all the bells whistles and beautiful wheels - is it a Audi A7 lol?


†I had a long ride in one of those a couple of years ago, and boy was that luxurious. A lovely car and if I could ever afford a luxury car, that would be my choice. †I don't rate beamers or mercs at all. †The only other time I've been in an audi was an A4 many years ago, driving a colleague's round the block. †I set off, forgot the roundabout just ahead, thought $%£*& and braked hard. †The car stopped on a sixpence with no skidding whatsoever, wow, I was mightily impressed. It was lovely to drive as well.



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John†

†Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Guru

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Very nice. I must admit I do like the shape of the new BMW - especially in white. If you do get the 4.0 litre John, it might be worth claiming for the petrol rather than MAP lol.

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Johnny† -†Owner of an overly-active keyboard.†

A man who can read, yet doesn't, is in no way wiser than a man who can't.



Member

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Date:

Thank you for your response. The paperwork received is from the finance company and it shows their VAT number and states the invoice is for VAT purposes only.



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