Company cars - seems to be a new rule in HMRC 480 since 2013

[northernladuk]

sure glasses guide trade price will do fine

I am sure it won't when HMRC come to inspect.

Looks like you have this in your head and despite all the advice you still insist on trying to rob your company blind. This isn't the advice we give on here so if you are so sure about it just go and do it.

[MPwannadecentincome]

I am sure it won't when HMRC come to inspect.

Looks like you have this in your head and despite all the advice you still insist on trying to rob your company blind. This isn't the advice we give on here so if you are so sure about it just go and do it.

Well I posted this to tap into the experience of people who might have gone down this path and it seems that nobody has that wants to talk about it.

Besides, lots of companies use glasses guide trade price for disposal - I have seen it happen in companies I have worked for so I don't think HMRC will be interested really. Even if I didn't buy the vehicle myself from the Ltd co if I sell to a dealer they will not pay more than glasses trade price.

So the company is not going to be robbed in fact by not getting a high depreciation car I am balancing mine and the company's interests.

IMHO.

[SueEllen]

Well I posted this to tap into the experience of people who might have gone down this path and it seems that nobody has that wants to talk about it.

There are a couple of posters in the past who have had company cars through their companies. Their roles involved using the car during the day to get to many different sites including in middle of fields.

In addition instead of asking loads of questions on here they bothered to go and talk to an accountant who they paid.

[MPwannadecentincome]

There are a couple of posters in the past who have had company cars through their companies. Their roles involved using the car during the day to get to many different sites including in middle of fields.

In addition instead of asking loads of questions on here they bothered to go and talk to an accountant who they paid.

Which is what I am doing now as part of setting up Ltd Co thanks!

My only intention on posting here was to see if anyone was re-imbursing private mileage to reduce BIK.

[northernladuk]

Well I posted this to tap into the experience of people who might have gone down this path and it seems that nobody has that wants to talk about it.
IMHO.

Plenty of people wanted to talk about it. They said it isn't worth it. The fact no one has any experience really is the answer. If this was a clean cut example to save money we would all be doing it so the silence speaks volumes.. but you have obviously decided to ignore that advice and are convinced it is worth it... so go fill your boots.