EU MINISTERS ASKED TO APPROVE CONTINUATION OF SPECIAL UK VAT SCHEME FOR COMPANY CARS
December 1st, 2007
BY KEITH NUTHALL
EUROPEAN Union (EU) ministers have been asked to extend until December 2010 the authorisation for Britain to act outside EU VAT law by charging 50% input tax on the hire or lease of passenger cars used for business and private use, so drivers can avoid keeping of detailed private mileage records. The exemption will otherwise expire this December 31.
ENDS
EUROPEAN Union (EU) ministers have been asked to extend until December 2010 the authorisation for Britain to act outside EU VAT law by charging 50% input tax on the hire or lease of passenger cars used for business and private use, so drivers can avoid keeping of detailed private mileage records. The exemption will otherwise expire this December 31.
ENDS
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