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#1 23-07-05 02:13:26

GBrianOB
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Tax

Looking forward to eventually qualifying and setting up a driving instruction business, some questions on tax if anyone can help me. I will eventually get an accountant - between them at the moment - but I need this info for pulling together a business plan at the moment.

If a driving instructor is registered for VAT, is VAT chargable on driving lessons?

Again, if an instructor is registered for VAT, is VAT reclaimable on cars for instruction? I read the VAT manual but didn't understand what it had to say. Seemd VAT was reclaimable but had to be paid back in full when the car was sold, which seemed a bit steep.

Can all costs - capital cost of car, depreciation, petrol etc. be offset fully against income tax or some portion only since there is personal use for the car?

All help appreciated.

:?

23-07-05 02:13:26

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