Motorhome investment

[dx4100]

Hi All

I'm currently looking at buying a motorhome. Partly for holidays, partly to hire out and hopefully help pay for it.

Myco is a IT consultancy...with just me working through it at the moment.

Can I rent it out through myco ?
Any real benefits / good idea to rent it out through myco ?
I dont suppose it can help towards a IR35 rating :P Multiple clients etc

Or am I best just to keep it separate? Possibly as a separate company ?

[ratewhore]

Yes, you can do it through your Ltd.

Ask your accountant about benefits, although bear in mind they would have a vested interest in you running another company.

Can't hurt, particularly if it generates a fair amount of business.


HTH...

[dx4100]

Yes, you can do it through your Ltd.

Ask your accountant about benefits, although bear in mind they would have a vested interest in you running another company.

Can't hurt, particularly if it generates a fair amount of business.


HTH...

cheers

Am I right in thinking I can use a different trading name as well ? As long as I put on the inovices etc thats it actually part of xyz company ?

[TheFaQQer]

cheers

Am I right in thinking I can use a different trading name as well ? As long as I put on the inovices etc thats it actually part of xyz company ?

Yes - my Ltd has a whole range of trading names.

You may need to register something with the bank, just in case you get a payment made out to the trading name rather than Ltd, but it's not a problem really.

[dx4100]

Yes - my Ltd has a whole range of trading names.

You may need to register something with the bank, just in case you get a payment made out to the trading name rather than Ltd, but it's not a problem really.

Thanks

[Hiram King Of Tyre]

If you use it personally, it will be taxed as a company car

[TykeMerc]

If you use it personally, it will be taxed as a company car

Not if he rents it to himself like any other customer.

[tim123]

Not if he rents it to himself like any other customer.

but then he will pay tax on the profit made on his own money

tim

[tim123]

Don't forget that if you rent it out, YOU will have to arrange third party insurance for that purpose.

tim

[zara_backdog]

Don't forget that if you rent it out, YOU will have to arrange third party insurance for that purpose.

tim

You have to have specific Vehicle hire Insurance anyway - not just third party and take out additional liability insurance i.e. in case you can not provide the vehicle as promised for any particular reason.