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What is a VAT Qualifying Car? - YouTube
Channel: MHH International Ltd
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[Music]
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finding v80 qualified cars is the holy
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grail when it comes to exporting cars
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outside the uk
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hi i'm aleister ben from mhh
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international
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it's our job today to explain about v80
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qualified cars
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what makes them v80 qualified or not
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whether it applies to new or used cars
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and most importantly how we've helped
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you find cars that are vat qualified
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saving you that 20 percent here's where
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to tell you more
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value-added tax is the tax applied to
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goods and services by her majesty's
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revenue and customs
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hmrc that for a car is 20
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this is included in the advertised price
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of a car
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buyers can reclaim the v8 for their car
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and reduce the price by 20
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under specific circumstances
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but what does vat qualifying mean a car
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is defined as vat qualifying if it is
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either
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a brand new car or has been only owned
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by a business for business purposes
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throughout its lifetime you may also
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come across
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the term gross fat qualifying which
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means the vehicle has been registered to
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a business and so the vat
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is still reclaimable conversely any car
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or vehicle which has been owned
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privately at any point in its lifetime
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becomes non-vat qualifying the vat is no
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longer reclaimable
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and the vat qualifying status cannot be
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reinstated no matter who buys it
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buying a vat qualifying car for export
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can make you the single biggest saving
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in your purchase making it the holy
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grail of car exporting
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overseas buyers can save twenty percent
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vat off the advertised price of a that
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qualified car
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this is because when a vat qualifying
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car is exported permanently outside the
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uk
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the v80 can be reclaimed from hmrc
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to illustrate the purchase price of a
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vac qualifying car which is advertised
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for 36
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000 pounds drops to thirty thousand
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pounds
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as the six thousand is reclaimable from
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hmrc
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on export from the eu
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this saving isn't just for exporters uk
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buyers who are vat registered
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can also reclaim the 20 vat if they are
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buying a vac qualified car
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for business purposes and register it to
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their business
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let's look at which cars this applies to
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all new cars begin life at qualifying if
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they are registered to a uk
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v80 registered business they remain that
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qualifying
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but if they're registered to a private
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individual they become
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non-vac qualifying automatically
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a used or second-hand car will also be
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that qualifying
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if it has remained registered to
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businesses throughout its lifetime
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it becomes non-vac qualifying once it is
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registered to a private owner
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and the vat cannot be reclaimed it's
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fairly common to be able to find cars up
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to four years old which is still that
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qualifying
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although the older the car you are
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looking to buy the fewer there will be
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to choose from
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if you're buying an ex-lease car from a
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business there's a good chance it'll be
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that qualifying
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because it was purchased for business
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use
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if you're buying commercial vehicles
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they're also likely to be that qualified
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that on vans pickups trucks and lorries
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works in the same way as cars
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and it also applies to motorhomes and
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combi vans too
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it's vital you understand how you can
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reclaim the v80
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before you buy your vat qualifying car
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we will soon create a quick video on
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reclaiming vat
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but for now please go to the link in our
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blog page
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please be aware that some companies will
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ask you to pay the v80 up front
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and agree to return the money when the
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reclaim is successful
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this is risky and unnecessary
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we won't charge you the vat our price
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will be net of fat
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so you can reduce your financial outlay
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and have no risk to worry about
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if you're thinking of buying a vat
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qualifying car for export
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let our experienced sourcing team find
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you the best fat qualified cars
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available
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with over 10 years exporting experience
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sourcing new and used prestige cars
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worldwide
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our expertise and wealth of knowledge
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will give you access to the best cars
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available
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simply go to our websites
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mhhinternational.com
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and mhh japanesecars.com let us know
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what you're looking for and we'll be
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delighted to help you find your next car
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you
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