Dealers wishing to reclaim overpaid VAT on demonstrator vehicles
must submit their claims before March 31 2009, HM Revenue &
Customs has confirmed.
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The historical VAT overpayments made by dealers could run into the
hundreds of millions of pounds, and refunds of wrongly-paid tax
could offer a cash lifeline to retailers struggling to stay afloat
in a difficult market for car sales.
Sue Robinson, director of the RMIF’s National Franchised Dealers
Association said: “It is important that dealers’ claims are in
before the deadline, as we believe this will be the last of the
extensions granted on this issue.
“This has been a fantastic opportunity for dealers to reclaim VAT
they overpaid because HMRC misapplied the rules.”
