COMPANY CAR VAT: 100 words
December 1st, 2003
BY KEITH NUTHALLA BRITISH VAT regulation simplifying company car VAT returns could effectively be declared illegal next year by the European Court of Justice (ECJ). The rule involves Customs & Excise restricting to 50 per cent the proportion of company car hiring or leasing charges that are declared as a business expense and freeing a businesses hiring or leasing cars from having to keep records of private mileage. The problem with this rule is that it does not comply with standard European Union (EU) VAT directives and although the European Commission has ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.