I have a client who has recently incorporated. They have a vehicle that is used wholly and exclusively for business which they make finance payments for. The vehicle is in their personal names and not the business.
My question is what would be the best way of bringing the vehicle into the company so they can claim the VAT on the car expenses or should they keep a mileage log?
Thanks in advance for your help
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I have a client who has recently incorporated. They have a vehicle that is used wholly and exclusively for business which they make finance payments for. The vehicle is in their personal names and not the business.
My question is what would be the best way of bringing the vehicle into the company so they can claim the VAT on the car expenses or should they keep a mileage log?
Thanks in advance for your help
"The vehicle is in their personal names."
Can you clarify that ? How many of these cars are there ? And how many people ?
Sorry, it is a sole director, she became a director and has two vehicles one of which she uses solely for business purposes.
Sorry, it is a sole director, she became a director and has two vehicles one of which she uses solely for business purposes.
OK, well, the answer is that she can only bring the vehicle into the company if the finance company agree.
Likely outcome is that she'll need to run the car herself and claim mileage.
Sorry, it is a sole director, she became a director and has two vehicles one of which she uses solely for business purposes.
Sorry, it is a sole director, she became a director and has two vehicles one of which she uses solely for business purposes.
Sorry, it is a sole director, she became a director and has two vehicles one of which she uses solely for business purposes.