Car Leasing Recurring Purchase

Question asked by Alan Bennett 3 months ago

Hi Pete or Tommy,

Could you please take a look at this recurring purchase I have set up to show 36 payments for a car lease.

I'm claiming 50% since this is my business/private mileage ratio.

I'm allowed to claim 50% of the VAT back with car leasing.

Does this look right? I'm presuming that the half put down as drawings will not affect my VAT account.

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2 Replies

Hi Alan. The drawings line should be using "Exclude from VAT return" VAT code. This will then show 0 for VAT, and £117.61 net and £117.61 gross for that line.

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Best answer
3 months ago

Absolute legend, thanks Pete :-)

3 months ago

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