Member Since: 21st Jan 2003
22nd Jun 2020
I posted a similar query three years ago and received the following advice:
Does the contract provide that the purchaser shall or may become the owner of the car, and does the contract fall to be treated as a finance lease under GAAP?
If you have two yes reponses, then all of the payments under the contract are treated as made when the car begins to be used for the purposes of the business.
CAA 2001, s 67.
7th May 2020
Why don't you amend them to £159? The £3 won't be demanded until a future tax bill is due and it could save a lot of bother if you have caused an issue.
23rd Mar 2020
Why would you submit a claim now for someone who is self employed. How on earth could HMRC process a 2019/20 claim now for a self employed individual that has not ceased. In addition it would never get processed quicker manually now rather than waiting to post 05/04/2020. This seems like it's not for a client but for you. Any accountant or experienced SA individual would know the answer to your questions.
18th Mar 2020
CGT. Need more information
12th Mar 2020
Sound like loan rather than a subscription for shares
5th Feb 2020
How about some dates as it makes a difference if there is transitional overlap relief.
10th Jan 2020
The pre. 06/04/1997 part of the 1997/98 assessment is what I believe to be the overlap. I think that the overlap for transitional businesses were pre CAs rather than post CAs.
5th Nov 2019
Look if they qualify on HMRC's approved list. If so claim against PAYE and the £1,000 trading allowance.
25th Oct 2019
Put the ownership , insurance etc. in the company name and have the driver(s) who are presumably directors sign an agreement stating that the vehicle cannot be used privately. That can possibly be covered in the insurance as well. That should avoid the BIK issue.
25th Oct 2019
See HMRC 480 booklet - non taxable benefits chapter 5, non taxable if
The benefit to employees of travel between home and work in a works bus provided that:
the bus or minibus has a seating capacity of 9 or more
the service is available to all employees
the main qualifying use of the service is travel by employees between home and their workplace or between workplaces
substantially, the whole use of the service is by employees (and