Tag: ASE

car mechanics

ASE warns of higher used car stock levels in January

Dealer profitability specialist ASE has warned rising used car stock levels are having a negative impact on dealers. Commenting on dealers’ performance in January ASE chairman Mike Jones said used car stock in terms of units and values were on the rise. “Stocks remain high, up 3.6% in volume and 7 % in value terms,

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car mechanics

The HM Revenue and Customs’ (HMRC) willingness to challenge sales values used in VAT calculations has been highlighted in a VAT appeal judgement, according to ASE.

ASE’s tax director Michelle Malone said: “The N & M Walkingshaw case considered whether prior to 1992 an over allowance on a part exchange vehicle could be treated as a discount on the sale of the new vehicle. This would have led to a reduction in the amount of VAT that had to be declared

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