Post by account_disabled on Dec 24, 2023 1:07:16 GMT -5
Aof vehicleuse agreements leasing hire purchase and a mixed agreement called Agility. . The leasing agreement excludes acquisition of the vehicle by the lessee following the expiry of the lease term. It is common ground in the main proceedings that this agreement constitutes a supply of services for VAT purposes. A hire purchase agreement by contrast is structured in such a way as to ensure that as a rule the sum of the instalments will correspond to the vehicle price including the financing costs.
While the agreement may provide for either equal instalments Country Email List or a significantly higher final instalment a socalled balloon payment payment of all instalments by the customer is as a rule mandatory. relieved from this obligation is to give notice of termination of the agreement which is possible on the basis of the abovementioned consumer credit provisions. The agreement contains an option for the customer to purchase the vehicle when the term of the agreement expires at which time the customer will be obliged to pay a symbolic final fee normally GBP . However as the sum of the instalments corresponds to the full price of the vehicle a decision not to exercise the option to purchase a fully paidfor vehicle makes little business sense.
It is accepted in the main proceedings that a hire purchase agreement constitutes a supply of goods for VAT purposes. . The subject of the dispute in the main proceedings is the Agility agreement and its classification for VAT purposes. . This agreement is structured in such a way that following the expiry of the lease term the lessee has the option to purchase the vehicle subject to payment of the final amount optional purchase payment which corresponds to the mean anticipated value of the vehicle at the time of.
While the agreement may provide for either equal instalments Country Email List or a significantly higher final instalment a socalled balloon payment payment of all instalments by the customer is as a rule mandatory. relieved from this obligation is to give notice of termination of the agreement which is possible on the basis of the abovementioned consumer credit provisions. The agreement contains an option for the customer to purchase the vehicle when the term of the agreement expires at which time the customer will be obliged to pay a symbolic final fee normally GBP . However as the sum of the instalments corresponds to the full price of the vehicle a decision not to exercise the option to purchase a fully paidfor vehicle makes little business sense.
It is accepted in the main proceedings that a hire purchase agreement constitutes a supply of goods for VAT purposes. . The subject of the dispute in the main proceedings is the Agility agreement and its classification for VAT purposes. . This agreement is structured in such a way that following the expiry of the lease term the lessee has the option to purchase the vehicle subject to payment of the final amount optional purchase payment which corresponds to the mean anticipated value of the vehicle at the time of.