Hi All
I am just starting to think about moving away from using my motorbike as a personal vehicle and transferring it into the company, this is being drive by rising fuel costs and the fact that 24p per mile is no longer that good.
So here are the figures:
Bike Value = £2000
BIK = 20% of value per annum = £400
Annual depreciation 25%
Service costs (inc tyres) £350 per annum
Miles = 8800
Insurance = £200
Now as a personal vehicle I can claim £2112. but the fuel works out to roughly £1000
Is is worth transferring this into the company. I can legitimately claim safety equipment (leathers, helmet...etc) as well
I am just starting to think about moving away from using my motorbike as a personal vehicle and transferring it into the company, this is being drive by rising fuel costs and the fact that 24p per mile is no longer that good.
So here are the figures:
Bike Value = £2000
BIK = 20% of value per annum = £400
Annual depreciation 25%
Service costs (inc tyres) £350 per annum
Miles = 8800
Insurance = £200
Now as a personal vehicle I can claim £2112. but the fuel works out to roughly £1000
Is is worth transferring this into the company. I can legitimately claim safety equipment (leathers, helmet...etc) as well
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