Anyone bought a Motorcycle through their Ltd?

[roadster198]

Nonsense, VAT on a bike is 100% allowable (it goes down as "plant & machinery")

Of course I use the Harley as an excavtor MR HMRC inspector honest

How would I get away with Plant & machinery being an IT Contractor. What about as a promotional vehicle???

[Hiram King Of Tyre]

VAT is 100% allowable
BIK is 20% on the actual purchase price paid (inc VAT)
Servicing, tax, tyres etc are all added in for that year and are included in the 20% calculation
You should pay the petrol yourself and for any business mileage, the company should pay you a mileage rate commensurate with the actual cost and mpg performance of the bike.
HMRC also told me that the 20% BIK should be calculated on a pro rata basis based on business to personal mileage

[Sockpuppet]

Nonsense, VAT on a bike is 100% allowable (it goes down as "plant & machinery")

Well according to the accountant vat on new cars is a no-no. Vans it is allowed. Bikes are not really vans are they.

[Hiram King Of Tyre]

Exactly. I'm looking at getting a bike & a pickup (van) and just doing 10k miles in my own car

[The Lone Gunman]

With the technology involved you should be able to claim the Harley as an agricultural vehicle. .

[BigTime]

I put all my bike expenses through my ltd (including clothing) and my accountant was happy with this. You can reclaim the VAT on purchase of a new bike but you will have to charge VAT when you sell it.

[Hiram King Of Tyre]

you will have to charge VAT when you sell it.

But you make a profit on that if on flat rate

Do you pay BIK on clothing?

[BigTime]

I foolishly used to think it was worth doing my own self-assessment and ended up paying more than necessary. My BIK was 20% of bikes value plus related expenses. I used my bike 99% for commuting. Let your accountant work it out for you and you'll undoubtedly be better off.