Company has taken delivery of new Tesla car. Cost is 50k plus vat. Finance agreement is labelled hire purchase agreement. Deal is that company pays a £4 upfront payment plus £800 per month for 36 months. There is a ballon at the end of c24k. How should this be accounted for? If this is a lease contract what about recovery of vat?
19th Dec 2019
Accounting for this finance agreement -
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