Market leading insight for tax experts
View online issue

Cars, Finance and Input Tax

Andrew Hitchmough and Jonathan Bremner Pump Court Tax Chambers comment on the decision in Camden Motors (Holdings) Ltd
Does a car dealer use more of its VAT-bearing overhead costs in generating £1 of income from selling cars than it does in generating £1 of income from selling finance — or is it the other way round? This was just one of the questions that the VAT Tribunal (Miss JC Gort Chairman) had to address in Camden Motors (Holdings) Ltd in reaching its decision that Camden had been correct to apply the standard method in calculating its residual input tax recovery rate. This important decision will be of obvious interest to motor traders but also offers helpful general guidance on how to decide whether the standard method provides a fair and reasonable proxy...

If you or your firm subscribes to, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.