Disallowable / Allowable VAT
Disallowable / Allowable VAT
If a vehicle is financed on a Contract Hire or Finance Lease agreement and there is an element of personal use, the company can only claim back half the Vat (currently 8.75%) on the finance rental payment. The portion of Vat you can't claim back is called the disallowable Vat. All the Vat can be claimed back on the maintenance element spent on the vehicle.
Information
APR
Balloon Payment
Benefit In Kind (BIK)
CO2
Depreciation
Disallowable / Allowable VAT
Early Termination
Effective Rental
Excess Mileage
GAP
Guaranteed Future Value
Imported Vehicles
Initial Payment / Rental
Off Balance Sheet
OTR
P11D Value
Payment Profiles
RFL
VAT Qualifying Vehicle
09 May 2008
