Hello
I currently have a private car which I sometimes use for business and will claim 45p per mile using it for business.
However I am currently self employed but will be going limited form 6 April 2016
I need to change my car and was wondering if it would be beneficial to buy the car has a company car but I do not do the business miles or can I off set some of the purchase price against my business?
I know if I took out a loan I could offset the interest charge on the loan as an allowable expense.
However when you are spending in the region of £15k from life savings has you do need a car or would it be better to lease it??
Any help please!
Replies (1)
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Very interesting, but you would probably be better talking directly to your accountant rather than posting the question here, since there is no guarantee that he or she reads accountingweb and even if he or she does, they would probably want to speak to you directly.
I'm assuming that your accountant already knows quite a bit about your circumstances if they have advised that you incorporate in April, though I am a bit surprised at the timing. They will certainly need to take into account the fact that you are wanting to buy a car, since there will be all sorts of discussions to have.