I'm looking at getting a new van for personal use and traveling to my clients sites. Mileage would be claimed back using the mileage allowance.
My accountant has said its not worth putting it through my VAT registered limited company due to the TAX liability I will incur.
The VAN price is £25000 including £4000 worth of VAT in the price. My question is, can I somehow buy the VAN with my business and then re-sell it on to my self at a reduced rate to avoid or reduce the VAT ? My Ltd is currently on the flat rate of VAT scheme, and my quartly VAT returns are around £4.5K
Many Thanks
My accountant has said its not worth putting it through my VAT registered limited company due to the TAX liability I will incur.
The VAN price is £25000 including £4000 worth of VAT in the price. My question is, can I somehow buy the VAN with my business and then re-sell it on to my self at a reduced rate to avoid or reduce the VAT ? My Ltd is currently on the flat rate of VAT scheme, and my quartly VAT returns are around £4.5K
Many Thanks
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