Second hand car

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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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By Tim Vane
15th Jun 2019 01:58

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.

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By Tax Dragon
17th Jun 2019 09:07

Ironically, the bigger the commute, the more the financial sense it can make.

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By Accountant A
15th Jun 2019 11:26

"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.

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By waldron
15th Jun 2019 12:46

Surely the first question should be why would you buy a second hand car for 50k

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By Tax Dragon
15th Jun 2019 14:55

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?

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By 356B
15th Jun 2019 18:01

So, if we dont learn them how to rite proper, how wil they ever learn to torque proper?

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By Tax Dragon
17th Jun 2019 09:06

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?

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By Vile Nortin Naipaan
17th Jun 2019 11:10

Wanchor.

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