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Email problem
Substance over form and VAT implications
I've got a client who bought a vehicle (delivery) solely for his business. (The business couldn't get finance) Based on the substance over form definition we claimed all expenses through the business and the business pays the lease, the assets are recorded in the business' accounts and when the lease is paid in full he will sign over ownership to the business.
However now I need to know who claims the VAT, him or his business (the tax invoice is in his personal name)?
Thanks
Ladel
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