Company van allowable?

Company van allowable?

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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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By twj4789
26th Jul 2012 15:15

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.

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By Phil Rees
26th Jul 2012 15:23

Not all qualified accountants are listed by the ICAEW

We don't all belong to their organisation.

Get a personal recommendation.

 

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By Steve Kesby
26th Jul 2012 15:36

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.

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By twj4789
26th Jul 2012 16:27

Sorry Phil

Hi Phil,

Sorry no need to cause offence!

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By Phil Rees
26th Jul 2012 16:56

No problem

No offence taken.

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By User deleted
26th Jul 2012 16:58

There's more than one type ...

... of chartered accountant too, you can also check out the ACCA find an accountant link :o)

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By Jacko
27th Jul 2012 12:11

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.

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