Soldato
Will ask my accountant but figures I'd get a quicker reply on here.
Previously we've had a car bought for the Ltd, which is usable by all our staff that are eligible to drive under our insurance. This was a cheap £2k vehicle, and gets used randomly throughout the year. Some times its with someone for a a week, sometimes another person a month etc.
That car has been written off, and now looking to replace, however as vehicles are so expensive now, £2k doesn't go very far and to get something half decent it's more like £4k needed.
I'm considering spending more than normal and getting a really decent vehicle at £9k and buying it out right, still for the Ltd company.
Now my concern is will this change anything tax wise.
Will pay it fully with no loan, no finance etc. Will be usable still by all staff, though I will likely be the main user, using it for quotes and site visits, but it will still contain tools, equipment, and based used I'd say 40 percent by staff, 60 me.
Will benefit in kind apply here? It never has before. Will the price of the vehicle make any difference?
Previously we've had a car bought for the Ltd, which is usable by all our staff that are eligible to drive under our insurance. This was a cheap £2k vehicle, and gets used randomly throughout the year. Some times its with someone for a a week, sometimes another person a month etc.
That car has been written off, and now looking to replace, however as vehicles are so expensive now, £2k doesn't go very far and to get something half decent it's more like £4k needed.
I'm considering spending more than normal and getting a really decent vehicle at £9k and buying it out right, still for the Ltd company.
Now my concern is will this change anything tax wise.
Will pay it fully with no loan, no finance etc. Will be usable still by all staff, though I will likely be the main user, using it for quotes and site visits, but it will still contain tools, equipment, and based used I'd say 40 percent by staff, 60 me.
Will benefit in kind apply here? It never has before. Will the price of the vehicle make any difference?