Land Rover CT Tax query
A friend works in an engineering business that travels around the UK fixing up aircraft. He needs a vehicle to carry tools, travel around in, and use for private means such as the school run, etc.
He is not keen on buying a Van (mostly for kids school run reason) so he had his heart set on a Land Rover Diesel. However I know that the HMRC classes these as cars for tax so he will likely suffer as a result. He was thinking of buying the car privately and using the company to fork out for a loan but I'm not sure how legit that is.
He also needs more tooling so he was thinking of using the loan to partially pay for that as well.
Whats the best course of action he could take for tax purposes? He's willing to consider other large cars, but because he needs space, it needs to be big without been a van.
Any help will be great! Thanks.
- Retrospectively change VAT scheme? 63 1
- Goodie bag 1,483 52
- Husband Wife let property 332 9
- Partnership Tax Return £100 penalty-was a tax return due in this case? 485 12
- Output tax for retailer 299 8
- Footballers Testimonials Taxable? 249 3
- 13-14 Payroll return needs to be filed 107 2
- Payroll Software & Auto Enrolement 101 1
- CT600 Advice 71 1
- Fair Value Accounting 61 1
- Client incurring expenses on company car 103 4
- can I approach clients ? 350 8
- Companies House Penalties 83 2
- Apostille documents 94 2
- Budget 2015 predictions 526 13
- AE - employees making different contributions 67 1
- Transfer of properties to a limited company stamp duty 327 14
- Classic cars investment 553 15
- Why .... 817 9
- Awkward shareholder (sister) 524 5
- Possible Partnership? 637
- Tax and accounting treatment on long lease granted from freehold 512
- New Fangled Penalties 442
- Fuming! 371
- Purchase of property freehold - capitalisation of costs 315
- Charity dissolution and newly merged charity 253
- Outsource Data Entry 233
- Lenovo – Superfish & Komodia – is your PC vulnerable 232
- Moving away from CCH software 223
- Do I need a US Tax Identification Number to complete W-8BEN-E? 173