The tax point for separate delivery is the date of payment of interest. If the payments contain an item attributable to the credit, it means that a tax point occurs at each payment receipt. It is recognized that some providers may have difficulty isolating credit charges when the agreement provides for a fixed interest rate. Under these conditions, a housing tax centre may be appropriate (see VATTOS6300). The point of the property tax for delivery to the customer is, in most cases, the date of delivery or withdrawal of the goods. If there are two deliveries (for example. B to and by a financial company), this is the tax basis for the delivery of the customer by the financial company. The point of the property tax for delivery to the financial company is usually made on the date the goods are made available to the financial company. Unless the agreement is otherwise stated, it may be the effective date of the financial agreement, possibly on the date it was signed by the last party. There are two types of staggered payments — credit and terms. Other charges may also be imposed under the credit contract (see VAT FIN3125).
You don`t need to return it or resell it at the end of the deal – it`s now your vehicle you choose. New Vehicle Solutions Limited generally receives a commission or other benefits from financial service providers if you decide to enter into an agreement with the financial services provider, which we have also presented to you. These commissions or benefits vary depending on the lender, the nature and duration of the agreement and the volume of business and are not influenced by the interest rates of the loan. However, if it is written in your contract that you can keep the deposit if the customer changes his mind and this actually happens, no VAT is due. If you`ve already accounted for this VAT on a tax return, just adjust your next tax return. In addition to the examples presented in VATFIN3115, Article 2 also includes credits related to the provision of goods or services. B, for example, a credit facility linked to the purchase of a car. The car dealership may make the credit available for all or part of the amount for a specified period, or payments in connection with a rental purchase, conditional sale or credit sale, or financing may be provided by a third party. For there to be an exempt credit delivery in such cases, it is necessary to collect a separate fee for the credit and to communicate to the customer what is discussed in VatFIN3125. The 1994 VAT, Planning 9, Group 5, Post 3 and Note 3 Act covers this situation.
The exact effect depends on the circumstances.