Reply to: Is business car insurance taxable as BIK?

[WTFH]

I'm not sure why you'd do it any other way.

At a guess:
1. Lease electric car through company = zero or very low BIK
2. Personal insurance is cheaper than business insurance, so only get personal insurance.
3. He paid for the insurance personally, but now he wants to claim back 100% of it from his company.

What he has admitted:
The car is 80% personal use.
It's therefore a company "asset"/expense where the majority of use is unrelated to the company.
The personal insurance policy he has specifically excludes cars that are on a company lease. They must either be privately leased or privately owned.

[eek]

I'm sorry, what was the question again?

The original question was

Have to resurrect this thread.

I have opted for going for personal cover rather than business cover (as business is more expensive).

Can the company reimburse me for car insurance in this case? (Car is registered to the business and I am the director) If it can - is there BIK attached? Any links to info would be useful - I have tried googling

Followed by a lot of trying to identify what the OP had done and various attempts for him to justify his stupidity.

[wattaj]

I'm sorry, what was the question again?

[eek]

I'm not sure why you'd do it any other way.

The only plausible reason is because the person doing it is a cheapstake who hasn't got a clue what they are doing...

[Lance]

Yes, provided the company is purchasing and paying for the insurance.

I'm not sure why you'd do it any other way.

[eek]

this thread is very tl;dr


but, am I missing something...
If a person has a company provided car, the BIK on the car covers the car and it's insurance surely?

Yes, provided the company is purchasing and paying for the insurance.

[ladymuck]

These are the rules for cars supplied to employees:

Expenses and benefits: company cars and fuel - GOV.UK

And Aviva have two very clear categories for company car insurance:

Business Car, Van & Commercial Vehicle Insurance - Aviva


And if you scroll down a bit:

Why do I need Business Vehicle Insurance?

Business Vehicle Insurance – which is also known as commercial vehicle insurance – is a legal requirement in the UK, and protects you if you use your car or van for work-related purposes.
People often think that standard personal vehicle insurance policies cover them for work too, but this isn’t the case. Standard policies don’t offer the same level of protection as Business Vehicle Insurance does – in fact, standard policies only cover you for social use and commuting.
Business Vehicle Insurance covers a much wider range of uses than a standard vehicle insurance policy. With a commercial vehicle insurance policy, you’re protected if you travel between different locations for work, if you drive employees or colleagues around, use your van to commute to any place of work or if you use your vehicle for work – and anything else that you use the vehicle for on behalf of your business.

[Lance]

this thread is very tl;dr


but, am I missing something...
If a person has a company provided car, the BIK on the car covers the car and it's insurance surely?

[eek]

I have checked the policy - it says that the registered keeper is my company and owner is a leasing company.

Take-home vehicle - Wikipedia

A take-home vehicle, or company car is a vehicle which companies or organisations lease or own and which employees use for their personal and business travel.[1]

But I thought you were self employed?

[eek]

I have checked the policy - it says that the registered keeper is my company and owner is a leasing company.

Shall we look at the T&Cs again now we have that knowledge

https://www.aviva.co.uk/frequently-a...q/answer/3069/

You asked: Do I have to be the registered keeper of all the vehicles?

You do not have to be the registered keeper of all vehicles, but the vehicles need to be (or will be) owned and registered by either: you, your spouse/civil/domestic partner, a close relative residing at the same address, your company or is the subject of a private or personal leasing contract.


Sometimes I don't know why I bother asking questions on this forum.

So the car isn't owned by your company

And the lease doesn't meet the criteria of being a private or personal lease as it's a Business Lease.

[cannon999]

Maybe but I'm still not comfortable with that. You have a company car, on a company lease. Generally you get a company car because you need it for business not because you need to commute to and from work. The clue is in the name. So you'd expect a company car to be used for company businesses what with it being a company asset. Just doesn't feel right that something bought to do business is insured on 'occasional business use'.

Insurance companies can be absolute tw*ts when it suits them so got to be super super careful.

If you've explained it to them and can't do anymore then I guess fill your boots.

I have checked the policy - it says that the registered keeper is my company and owner is a leasing company.

Take-home vehicle - Wikipedia

A take-home vehicle, or company car is a vehicle which companies or organisations lease or own and which employees use for their personal and business travel.[1]

[northernladuk]

Yes but this isn't a scenario where I am a taxi driver or a delivery driver. I would be using the car to commute to work which is covered by pretty much any standard personal insurance out there

Maybe but I'm still not comfortable with that. You have a company car, on a company lease. Generally you get a company car because you need it for business not because you need to commute to and from work. The clue is in the name. So you'd expect a company car to be used for company businesses what with it being a company asset. Just doesn't feel right that something bought to do business is insured on 'occasional business use'.

Insurance companies can be absolute tw*ts when it suits them so got to be super super careful.

If you've explained it to them and can't do anymore then I guess fill your boots.

[cannon999]

It's funny how you don't know the difference between company and personal.

It's people like you that have caused the IR35 problems. Want the benefits of a business while refusing to act like one.

I know the difference between company and personal. This is 20% company 80% personal. That equation may change to 50 50 later however even if this was 100% personal this is still legal, because I pay BIK on the vehicle. I don't think you have a clue about company cars so why are you even bothering with this thread?

[WTFH]

Wow I hope you are not a software developer because you seem to be unable to grasp the concept of the word 'OR'. Registered to your company OR subject of a private or personal leasing contract. Do I have to spell this out for you?

You can't read.
You have failed to provide any links or references for the nonsense that you are producing in this thread. If you don't have something useful to say - don't bother.

Wow, I hope you are not a software developer because you seem to be unable to grasp the concept of the word 'AND'.
Do I have to spell this out for you?

owned AND registered

If it was "Owned or registered", then the argument would be different. But it's not.
The vehicle is not owned by you, and you do not have a private lease on it.

You can't read.

Actually, you can read, you just don't like reading things that don't suit your thoughts

[WTFH]

It's funny how you seem to be unable to actually post a link to the *right* documentation.

It's funny how you don't know the difference between company and personal.

It's people like you that have caused the IR35 problems. Want the benefits of a business while refusing to act like one.