Any Answers (back to index)
Having a mental block here - Car in a ptr'p
Posted by Anonymous on Tue, 09/02/2010 - 10:13
4 Partners (2 H&W)
A - brings a car they already own in to the partnership.
B - then uses the car for business and personal.
Is this a BIK for B? i am assuming so.
If it is not used exclusivley for B. Is it just a case of taking private use element off in comps etc.
Apologies if this is basic but i am having a bad day.
- 177 reads
- login or register to post comments
- Add to a social bookmarking site
Latest questions on 
Don't worry about it!
We all have bad days.
The benefit in kind system is only for employees and directors.
The partners are self-employed so it is a case of making any private adjustment in the tax computations and partnership tax return.