I have a client looking to refinance an existing HP agreement on a commericail vehicle. The client has claimed the VAT back on the intial purchase. He now has a settlement figure for the vehicle and the questions are
1. Does VAT have to be applied to the settlement figure for the HP agreement as the funder is selling the vehicle ?
2. Does the amount to be refinanced if it is for the settlement figure have to have VAT applied to it and then reclaimed?