Originally posted by gables
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Buying a motorbike through a Ltd Company...
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This and the previous thread Nluk started from earlier are timely.
I have just bought a BMW R1200 for commuting to Client Co. on dry days and I had been considering a Maxi Scooter like the C650GT or Piaggio X10 for the wetter weather
The BMW bike is mixed use the Scooter would be purely for the daily commute.
I also have my sons old 125 doing sod all in the garage.
I now think I will investigate if I could part ex the 125 as part of the purchase of a LTD Co. Scoot? and if the Scoot has to be new or 2nd hand.So now I am worried, am I being deceived, just how much sugar is really in a spoon full!Comment
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Just drafted a similar question - thank god that I checked and saw this thread running or NL would have "gutted me"
So the question - can a motorcycle be wriiten down/off over 12months (plant rules?) and sold for a notional £1 at the end? Can I buy it from the company?
Have my own private bike (KTM RCR8 ) so no need to use the "company R1200/K1600 (or should I simply get the Panigale ) and so in my case it would solely be business biased.Comment
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Apologies, bumping for views.
Originally posted by FMCG View Post.......... - can a motorcycle be wriiten down/off over 12months and sold for a notional £1 at the end? Can I buy it from the company?Comment
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Why would you think you can buy it for £1? Why would you think you can't buy it from the company?
Are your questions not answered in post 6 or do you no like what Wanderer has put?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by FMCG View PostApologies, bumping for views.
I would be very surprised if it could, otherwise we would all buy cars/bikes through the company, pay for them over a year then depreciate them to £1. That Giulia QV might be getting ordered sooner than I was planning...…Maybe we ain’t that young anymoreComment
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Originally posted by FMCG View PostJust drafted a similar question - thank god that I checked and saw this thread running or NL would have "gutted me"
So the question - can a motorcycle be wriiten down/off over 12months (plant rules?) and sold for a notional £1 at the end? Can I buy it from the company?
Have my own private bike (KTM RCR8 ) so no need to use the "company R1200/K1600 (or should I simply get the Panigale ) and so in my case it would solely be business biased.
However if you sell it to yourself it must either be at Market Value, meaning part of the allowance is clawed back, or there is a BIK in the undervalue. Unlikely to be a significant fiscal difference between these two.
Also think about vat. It can be reclaimed on a new motorcycle with vat invoice from dealer, but you would need to charge vet on any sale. I'd need to check, but from recollection you would also need to charge vat on a resale of a used motorcycle even if you didn't reclaim vat in the purchase.Comment
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What about the gear like helmet, leathers etc can this be bought through the company? I've seen it mentioned in this and the previous threat but I didn't see an answer.
Reason I ask is that I'm thinking of buying a motorcycle through the company and I would be a new rider so have no equipment and wondered whether I'd be able to get the company to buy that tooComment
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Originally posted by SouthernManc78 View PostWhat about the gear like helmet, leathers etc can this be bought through the company? I've seen it mentioned in this and the previous threat but I didn't see an answer.
Reason I ask is that I'm thinking of buying a motorcycle through the company and I would be a new rider so have no equipment and wondered whether I'd be able to get the company to buy that tooThe greatest trick the devil ever pulled was convincing the world that he didn't existComment
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Originally posted by LondonManc View PostHave you asked your accountant?
I was originally thinking I'd do it all personally as its mostly going to be a weekend hobby and unlikely that I would use a bike for commuting (unless I got confident on it and the location of my client was suitable) but having followed the posts on here I may reconsider and thought I'd ask the question re the gear.Comment
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