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Isle Of Man Changes VAT Rules For Business Vehicles

by Jason Gorringe, Tax-News.com, London

12 April 2007


The Isle of Man government announced this week that from 1 May 2007, the method of determining how much a business has to pay in VAT for the private use of a business vehicle will change.

This will affect all VAT-registered businesses from their next accounting period beginning on or after 1 May.

Previously, the charge was based on the engine size and engine type (i.e. whether it was a petrol or diesel vehicle). The new method is based upon the CO2 emissions of the vehicle in question.

Several websites are available to business taxpayers that provide calculations of vehicular CO2 emissions. However, for vehicles which do not have a CO2 emissions rating, taxpayers may use a set emissions rating figure which is based upon the vehicle's engine capacity, namely:

  • For cylinder capacity of 1400 cc or less: 140 or less;
  • For cylinder capacity exceeding 1400 cc but not exceeding 2000 cc: 175;
  • For cylinder capacity exceeding 2000 cc: 240 or more.


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