Used Taycan 4S Incoming
Discussion
How I understand it The company is paying 100% of the cost of the car lease and will recover 50% of the VAT. I am paying a 2% BIK on a P11D
With corp tax benefit also- We save around £3k a year.
With corp tax benefit also- We save around £3k a year.
Edited by Cpb1702 on Saturday 15th April 17:24
Edited by Cpb1702 on Saturday 15th April 17:30
Cpb1702 said:
How I understand it The company is paying 100% of the cost of the car lease and will recover 50% of the VAT. I am paying a 2% BIK on a P11D
With corp tax benefit also- We save around £3k a year.
You can claim the VAT as long as the used car is still VAT applicable. Also, pretty sure to claim the VAT the car needs to be 100% business use, plus the car has to be owned, not leased. With corp tax benefit also- We save around £3k a year.
Edited by Cpb1702 on Saturday 15th April 17:24
Edited by Cpb1702 on Saturday 15th April 17:30
I might be wrong, but worth checking.
Thanks for that, it was the 100% capital allowance I was thinking of which is only allowable on new. On second hand you would use the write down allowance at 18%.
That might be different if leasing / hiring.
I would prefer used to be honest, especially now the hype and overs seem to have died down.
That might be different if leasing / hiring.
I would prefer used to be honest, especially now the hype and overs seem to have died down.
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