• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Should I buy bike a through the company or not. Too confused :(

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #11
    Originally posted by northernladuk View Post
    And insure it as well?

    What happens if someone buys a very expensive bike for (cough) business needs and then they change gig where a bike is no longer required? Is it just the need at the time it was bought and anything else after that is irrelevant?
    If they got a separate bike insurance policy, would be fine to claim it too IMO (assuming the company owns the bike, ie my second option).

    Re your 2nd para, well, no different to buying any other asset. If it's their last day at a gig 10 miles away, the next gig is already signed up for and 100metres away (or 100 miles away) so not readily cyclable, then I'd question whether the motive really was for business. If on the other hand it seemed totally legit at the time, but then circumstances change, no issue as far as I'm concerned. If they no longer need the bike and choose to sell it, then of course those sales proceeds go into the company, and are taxable.

    Comment


      #12
      Originally posted by northernladuk View Post
      And insure it as well?

      What happens if someone buys a very expensive bike for (cough) business needs and then they change gig where a bike is no longer required? Is it just the need at the time it was bought and anything else after that is irrelevant?
      What happens if current gig is not within cycling distance, but core part of my limited company's strategy is to find a gig circa 15 miles from home, which I might attempt to cycle if conditions are amenable?

      Comment


        #13
        Originally posted by fiisch View Post
        What happens if current gig is not within cycling distance, but core part of my limited company's strategy is to find a gig circa 15 miles from home, which I might attempt to cycle if conditions are amenable?
        In that case I'd think you are taking the piss, which I believe many situations where expensive bikes are involved are TBH but the door is clearly open for it.
        'CUK forum personality of 2011 - Winner - Yes really!!!!

        Comment


          #14
          I put a 6K motorbike through the Ltd in the 90's

          Comment


            #15
            Originally posted by BR14 View Post
            I put a 6K motorbike through horse droppings doing 90

            FTFY
            …Maybe we ain’t that young anymore

            Comment


              #16
              Originally posted by WTFH View Post
              FTFY
              how do you know i was doing 90Kph ??

              you ride a fecking horse?

              do you?

              Comment


                #17
                Originally posted by BR14 View Post
                I put a 6K motorbike through the Ltd in the 90's

                I put a TVR through the books in the 90s!
                ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

                Comment


                  #18
                  Originally posted by northernladuk View Post
                  In that case I'd think you are taking the piss, which I believe many situations where expensive bikes are involved are TBH but the door is clearly open for it.
                  Whilst the door may be open, the term 'main use' is the one likely to cause issues.
                  Cube Reaction Hybrid SL 500 2019 Electric Mountain Bike | ELECTRIC MOUNTAIN BIKES | Evans Cycles

                  There's no way I'll use that more for business than pleasure, but maybe if the pleasure use is never for the same journey it's not its 'main use'....
                  See You Next Tuesday

                  Comment

                  Working...
                  X