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. If the option tax is significantly less than the expected market value, HP contracts include delivery of goods for which VAT is required at the beginning and separate delivery of VAT-exempt financial resources. With regard to PCP contracts, the correct treatment of VAT depends on the amount of the balloon payment option and what a customer would do as a “rational economic operator” if he is allowed to exercise a purchase option. The exact effect depends on the circumstances. For example, a customer can order a commodity while making a down payment. This will create a tax point equal to the amount paid, expected on that date between the two parties. A financing agreement is then entered into through a third-party financing company.
As a result, the initial down payment is converted into a customer`s payment to the financial company, which is in turn credited by the financial company as payment for the delivery of the goods by the original supplier to the financial company. This removes the initial checkpoint. However, it is important to first determine the position of the supply before considering the delivery date. For example, is the loan itself financed by the supplier? If this is the case, the goods are delivered directly to the customer. On the other hand, the participation of a third-party financing company could mean that there are two deliveries that consist of a delivery to the financial company and the financial company to the customer. However, this is not to be expected. For example, if the financing is secured by an unsecured loan, it is unlikely that the proceeds will be delivered to the financial company providing the loan. If a supplier has to change the VAT treatment of its contracts, you may need to change the VAT you have recovered. It is also important to ensure that you clarify the correct treatment of future VAT financing agreements and maintain vat invoices in support of the VAT recovered in order to avoid possible problems. In the case of motor vehicles, the question of whether a PCP contract is a delivery of goods or a lease agreement that could affect VAT collection may have an impact.
Unless these adjustments are offset by other tax points that could have been generated over the interval (for example. B by supplying and delivering the goods), these adjustments constitute other simultaneous tax points for both the original beneficiary and the financial company.