Originally posted by nelly76
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Company Van/Pickup - My first post, be gentle!!!
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Public Service Posting by the BBC - Bloggs Bulls**t Corp.
Officially CUK certified - Thick as f**k. -
BIK
The key thing is that it is available for private use....irrelevant whether used or not.
There is the option of deeming it as a "pool" vehicle which we've used before for other non-contractor type clients but even then, the vehicle had to be available to all staff, insured for business purposes only, and full mileage records maintained. That way were able to demonstrate to HMRC that all trips were business related. Bit easier to prove when you've a few staff but if you're a sole director with the business premises being your home then a very sticky wicket!
Yes, you'd get the cost of the vehicle, running costs, etc to go through the company accounts but there's the BIK to deal with as well so sitting down with the numbers to weigh up whether worthwhile is advisable. I carried out the same exercise for a client 2 weeks ago, comparing pros and cons of a pickup, car and a mobile home either privately, through company and with finance or cash. The differences are pretty substantial depending on the vehicle, length of time intend to keep it, finance, etc so need the details to work out which way to go.Comment
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