Originally posted by eek
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Is business car insurance taxable as BIK?
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Originally posted by cannon999 View PostThe lease agreement asks for a fully comprehensive insurance which is what this is. It's not used exclusively for non-company activities? It's used for both personal and company activities. That's allowed.
It is a vehicle registered to the business. To use this vehicle for going to meetings this vehicle MUST be insured. How can you say that it's not expensable? That's nonsense. Expenses if you're self-employed: Car, van and travel expenses - GOV.UK
Perhaps, as eek infers, you need to look a bit harder for the right manual to get the information your accountant could supply you with.Comment
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Originally posted by cannon999 View PostThe issue is that I have 2 accountants that do not agree on the matter.. Which is why I want to know what other people have done and whether anyone can provide any useful links to read.
What exact question(s) did you ask and what did they reply with? Are you comparing apples and pears, as in you asked accountant 1 a question, didn't like the answer so asked accountant 2 a slightly different one and got a different answer?Comment
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Originally posted by ladymuck View PostAh so you're self-employed and not operating via a Ltd Co?
Perhaps, as eek infers, you need to look a bit harder for the right manual to get the information your accountant could supply you with.Comment
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Originally posted by cannon999 View PostI am operating via an Ltd hence I am self-employed.merely at clientco for the entertainmentComment
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Originally posted by eek View PostNo you are not - you are employed, for most definitions of employment, by your Ltd Company.
You are wrong.Comment
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Originally posted by cannon999 View Post... I cannot drive the business vehicle without the insurance - it is a requirement of the business lease agreement (and a legal one). So to go to a business meeting - this vehicle has to be insured...
SD&P insurance covers personal driving and daily commuting to one single place of work. If you're a contractor, you can't say you have one place of work, so SD&P won't cover you.
You can probably get away with Business Class 1 or 2.
And interestingly, if you search around, some insurers are cheaper if you go for class 2 business, but with low business mileage, than if you just go for personal.…Maybe we ain’t that young anymoreComment
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Originally posted by WTFH View PostTo drive to a business meeting that is not at your regular place of work, or to drive from one business location to another during business hours REQUIRES business insurance, otherwise your insurance is invalid.
SD&P insurance covers personal driving and daily commuting to one single place of work. If you're a contractor, you can't say you have one place of work, so SD&P won't cover you.
You can probably get away with Business Class 1 or 2.
And interestingly, if you search around, some insurers are cheaper if you go for class 2 business, but with low business mileage, than if you just go for personal.
Not according to my insurer. They specifically said that travel between offices, commuting to work and occasional business use is covered.Comment
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Originally posted by cannon999 View PostNot according to my insurer. They specifically said that travel between offices, commuting to work and occasional business use is covered.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by cannon999 View PostNot according to my insurer. They specifically said that travel between offices, commuting to work and occasional business use is covered.
Who is your insurer, and were you honest on the form as to who was the registered owner of the vehicle?…Maybe we ain’t that young anymoreComment
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