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Advice on Self Employed, Buying A New(er) Car for Mrs - Pool Car Maybe ??
#11
(07-11-15, 05:30 PM)Oldgit link Wrote: your best leasing a "company" car from one of the dealers, then you can claim VAT back on your fuel plus your accountant can claim the car lease money back on your company accounts each year.
Been there, done it, wore the T shirt.

Careful here getting a car as a company asset under full cost scheme - in simple terms your ltd to own the company car, you can remove the company car cost from your profits is risky. Because is company car then at the end of the year you need to handle ALL Mrs personal trips (not business ones) as "benefits" and to add them to your tax calculation. Even Mrs going to the office as a secretary is classed as her personal trip going to work. Business trip is anything that relates to your company business only.

Means the best and the simple way is to just claim 45p a mile the way Sinto has shown.

All details here:

http://www.kfaccounting.co.uk/claiming-b...-expenses/

If your accountant cannot give you simple answer for that, probably you have lame one and are loosing money from taxes  Smile

Speak with him/her...
Adrian Monk: Unless I'm wrong, which, you know, I'm not.

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Re: Advice on Self Employed, Buying A New(er) Car for Mrs - Pool Car Maybe ?? - by Val - 07-11-15, 07:20 PM

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