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-   -   Company bike purchase ( https://www.xt660.com/showthread.php?t=18858)

mash101 21-04-12 10:01

Company bike purchase
 
I was told by a mate that you could buy a bike through your business & get it VAT free. I have been trawling the internet for info, & it seems a bike is classed as an asset, not a vehicle by HMRC, so there could be many tax benefits if you are a company owner/director. BUT: it seems the bike would need to be exclusively for business use. Any budding accountants out there got any info about loopholes etc which would allow some personal use too????????

Woottonboy 21-04-12 11:25

movie scene scout!
 
Easy just get "movie scene/outdoor location scout" added to your position description/job title.

stumpydave 21-04-12 18:56

As Ive always been told, it has to be a justifiable and believeable need for the business. I would say that unless you're a self employed courier rider or medical despatch or private paramedic (i cant think of anymore) then you have no real need for a motorcycle.

Woottonboy 22-04-12 00:00

next couple og idea's
 
* okay what about mobile art installation
* put a company logo on it, call it advertising vehicle
* give it a name and employee number and just have it as an employee?
* register it in another country and call it a foreign asset

stumpydave 22-04-12 12:51

Quote:

Originally Posted by Woottonboy (Post 171515)
* okay what about mobile art installation
* put a company logo on it, call it advertising vehicle
* give it a name and employee number and just have it as an employee?
* register it in another country and call it a foreign asset

Or become an mp and then it wont matter anyway, just do what you want blowup


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