I am hoping someone could help me - I have read through similar question asked previously but information on that is 3 years old and hence new question/thred.
Usual - LTD company, I am director andd using personal car for a lot of commute (c600 miles a week) and now looking to buy a new car to not rack up any more miles on personal car. Looking at Volvo XC90, co2 emmission of 149g/km, registered 2018, currently has 10k miles, price £50k
Accountant -> buying this would be a BIK of @18k [£50,725 x 37% = £18,768.25.]
Question - Is this advice true? I would of thought I would of been able to buy it for a business and use it to that purpose?
R
Replies (9)
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You need to look up the word commute. I don't think it means what you think it means. Not that it matters. Your accountant presumably advised you that buying a company car was a dumb idea. It very rarely makes financial sense.
"I would HAVE thought I would HAVE been able"
Fixed that for you.
If you did think that, that's probably why you aren't working as an accountant and your accountant is.
If your accountant is less snotty than the average Aweb contributor, you're probably safe from being found out.
Are you set on the Volvo?
Never mind the three Rs, what about basic manners?
These one-post wonders who never follow up on their own questions.... can't Sift PLEASE do SOMETHING?