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# Company Assets

Company Assets

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• ### Claim back vat on land with option to tax?

I need to calculate whether it is worth the limited company retaining two motorbikes as a fixed asset or the director buying them from the company and at what value that would be cost effective in terms of CT versus SA.  My calculations are as follows.  Are they right???  Many thanks Claire

 Bike 1 £ £ £ £ £ £ If Disposal proceeds : 1,000 2,000 3,000 4,000 5,000 6,000 WDA adjustment 200 400 600 800 1,000 1,200 P & L Costs 250 250 250 250 250 250 Class 1a NIC 208 208 208 208 208 208 Taxable profit adjustment 658 858 1,058 1,258 1,458 1,658 Corporation Tax @ 24% 158 206 254 302 350 398 Asset Value 6,300 6,300 6,300 6,300 6,300 6,301 Taxable benefit @ 20% 1,260 1,260 1,260 1,260 1,260 1,260 Additional Running Costs 250 250 250 250 250 250 Total Taxable benefit 1,510 1,510 1,510 1,510 1,510 1,510 Tax @ 20% 302 302 302 302 302 302 Tax Gain/(Loss) -          144 -            96 -            48 0 48 96 Bike 2 £ £ £ £ £ £ £ £ £ £ £ £ £ £ If Disposal proceeds : 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 WDA adjustment 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 2,600 2,800 P & L Costs 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Class 1a NIC 545 545 545 545 545 545 545 545 545 545 545 545 545 545 Taxable profit adjustment 1,745 1,945 2,145 2,345 2,545 2,745 2,945 3,145 3,345 3,545 3,745 3,945 4,145 4,345 Corporation Tax @ 24% 419 467 515 563 611 659 707 755 803 851 899 947 995 1,043 Asset Value 14,732 14,732 14,732 14,732 14,732 14,732 14,732 14,732 14,732 14,732 14,733 14,734 14,735 14,736 Taxable benefit @ 20% 2,946 2,946 2,946 2,946 2,946 2,946 2,946 2,946 2,946 2,946 2,947 2,947 2,947 2,947 Additional Running Costs 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Total Taxable benefit 3,946 3,946 3,946 3,946 3,946 3,946 3,946 3,946 3,946 3,946 3,947 3,947 3,947 3,947 Tax @ 20% 789 789 789 789 789 789 789 789 789 789 789 789 789 789 Tax Gain/(Loss) -          371 -          323 -          275 -          227 -          179 -          131 -            83 -            35 13 61 109 157 205 253

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