Home on wheels

[basshead]

Hammertime

http://halt.hammerzeit.us/images/hammerzeit.jpg

[DiscoStu]

STOP.......

Hammertime

[chef]

Doesn't say it has to be a new one, does it? Buy a tax exempt VW camper...

i can picture it now.. rolling up outside client co. in a beige split screen vw

"err yeah high mann, im like here to do some .net work, totally crazy wallpaper you got there.. far out"

[EvilWeevil]

Don't worry I'm sure the road tax for a motorhome will soon eat into any possible income tax gains...

Doesn't say it has to be a new one, does it? Buy a tax exempt VW camper...

[Zen Contracting]

STOP.......

As Vectraman says you'll only save the tax if you spend all of you income on the motor home ....... which is probably not a good idea.

Like any other vehicle a motor home will depreciate - how does the depreciation compare to the tax saving.

You would have to rent it from yourself at market rate. Any discount on market rate could be considered a benefit and taxed accordingly.

On top of the depreciation are the running costs (tyres, servicing, fuel, tax disc etc.). Like the depreciation these need to be factored in and compared to the tax saving.

The simple and best solution here is to forget the whole thing. To me it looks nothing more than a dodgy and misleading sale technique.

Regards.

David.

[Advocate]

Don't worry I'm sure the road tax for a motorhome will soon eat into any possible income tax gains...

[VectraMan]

What that means is that instead of paying tax, you can have a new motorhome instead!"

No it doesn't. Unless of course you spend all your income on a motor home.

[Lewis]

Interesting ... I'd rather have a motor home than pay it as tax myself. How long do you need to keep it for? Got a linky to anything official?

[VinnyB]

Just recved this email that quoted

"If you pay 40% tax or have to complete a tax return each year, here's something you ought to know about -

The Government has recently created tax incentives which effectively mean that if you invest in a motorhome for hire purposes, you can claim 100% of the purchase price against your annual income tax.

What that means is that instead of paying tax, you can have a new motorhome instead!"

I appreciate it was from someone trying to sell me a new Motorhome, but it beats paying for a hotel while gigging away from home (of course you'd be hiring it to yourself).