I am wondering if i should sell my van and use the money for a holiday, maybe tour europe or something. Then come back and buy another one on HP.
I could claim the vat back on the new vehicle and it would mean less tax to pay.
Dumb idea or not?
I am wondering if i should sell my van and use the money for a holiday, maybe tour europe or something. Then come back and buy another one on HP.
I could claim the vat back on the new vehicle and it would mean less tax to pay.
Dumb idea or not?
Keep in mind that you have to pay back the VAT to SARS on the vehicle you sell.
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Could work out to be an expensive holiday if the replacement cost is much higher and you will have no trade-in or deposit for the new van.
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