Company Vehicle Question

[Pamplemoose]

Afternoon folks.

I'm taking the risk of posting this in General as it will attract more attention - I am quite prepared to filter out the usual detritus from the doubtless numerous replies. And yes, I have searched - clearly my Google Fu isn't up to scratch.

With the advancement of EVs and PHEVs, owning one through MyCo doesn't look as horrific, from a BIK perspective (and the 100% write down in the first year), as Company Car possession traditionally did. My query is this, and is quite specific - can I legitimately have the present Mrs P (we're not married, BTW) as a named driver on the insurance, if said insurance is paid for by MyCo, bearing in mind that she has no affiliation with MyCo? She is not, for example, a shareholder.

Incidentally, she'd probably never drive said theoretical vehicle* - but I prefer both of us to be able to drive both cars, for obvious reasons.

TIA.

* Said theoretical vehicle is a Tesla Model S, on the off chance that anyone's interested...

[BolshieBastard]

A BIK is being introduced from this April for EV's of 5% and 7% from April 2016.

Insurance for partner? Not sure about that but there's surely some cost because it wont be business use.

[TheFaQQer]

Would you put a complete stranger on the insurance and count that as an expense that is wholly and exclusively for the business?

If so, then put your partner on the insurance and claim it.

But why stop there?

[Pamplemoose]

A BIK is being introduced from this April for EV's of 5% and 7% from April 2016.

Insurance for partner? Not sure about that but there's surely some cost because it wont be business use.

Absolutely so - I'm aware of the BIK - but this, in my opinion, is outweighed by the other savings. I agree with your other point, hence my original enquiry. Thanks for taking the time to reply.

[Pamplemoose]

Would you put a complete stranger on the insurance and count that as an expense that is wholly and exclusively for the business?

If so, then put your partner on the insurance and claim it.

But why stop there?

TF - in my previous incarnation, we used to get along. Maybe I should have worded it better: "I want to put a complete stranger on the insurance for a vehicle owned by MyCo - if they ever drive it, which would be unlikely, it would clearly not be for business reasons. What are the implications and associated pitfalls of doing so?"

[Pondlife]

It's not so simple though I don't think.

Companies that provide employees with Co Cars have insurance in their name and not the individuals, don't they? Any employee that the company decides can drive a company car. So essentially the driver isn't named.

Your struggle will be to find a Ins company that will allow you to buy insurance for an asset that you don't personally own, won't it? Or one that will provide company car insurance for a fleet of one.

Or am I finding a problem where there isn't one?

[Pamplemoose]

It's not so simple though I don't think.

Companies that provide employees with Co Cars have insurance in their name and not the individuals, don't they? Any employee that the company decides can drive a company car. So essentially the driver isn't named.

Your struggle will be to find a Ins company that will allow you to buy insurance for an asset that you don't personally own, won't it? Or one that will provide company car insurance for a fleet of one.

Or am I finding a problem where there isn't one?

Quite - my original question was based on the theory that I would be able to find an insurance company prepared to insure a fleet of 1 vehicle(s).

Apologies for the continued SFQs.

[TheFaQQer]

can I insure a Company car personally? i.e. Can I insure an asset that I don't own or have legal title for?

Yes. You are the registered keeper, so you can insure it yourself - same as you would if it was a personal lease.

[Pamplemoose]

Yes. You are the registered keeper, so you can insure it yourself - same as you would if it was a personal lease.

Oh. I thought that MyCo would be the registered keeper... Shows what I know - thank you for your assistance.

[Ticktock]

the present Mrs P (we're not married, BTW)

Is it your mum?