I have a service company advising business's how to save money. Therefore I do not really need a company van to shift heavy items etc., but I was wondering if I could still have a company van as I would pay less tax on it. Would the Inland Revenue allow this?
Replies (7)
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No
It isn't relevant or required for your trade. You should speak to an accountant who will be able to give you tax advice based on the law. Check the ICAEW website for a list of chartered accountants in your area - most offer free consultantions.
Not all qualified accountants are listed by the ICAEW
We don't all belong to their organisation.
Get a personal recommendation.
Huh?
If you've got a limited company (which is what you seem to be saying) and your limited company wants to provide you with a van rather than a car, because you pay less tax on the benefit in kind on it, that's completely fine.
You don't even need to use it for business purposes at all in those circumstances.
There's more than one type ...
... of chartered accountant too, you can also check out the ACCA find an accountant link :o)
Objects Clauses
Surely the objects clauses in the Articles are sufficiently wide to allow for the use of a van, either now or in the future. Therefore could'nt you argue that the van is relevant for its allowed 'trades'.
The BIK issue is not about the trade but the private useage.