Classic Bike - Limited company
Discussion
I have had company motorcycles through my limited company.
The only issue at first, was my accountant wanted to know why I needed a company motorcycle and have a car allowance as well.
The accountant was told to sort it out and not to question why.
There is no personal tax liability on a company motorcycle as they are treated as plant and not the same as a company car.
All running expenses and bike gear can be claimed (safety equipment).
The only issue at first, was my accountant wanted to know why I needed a company motorcycle and have a car allowance as well.
The accountant was told to sort it out and not to question why.
There is no personal tax liability on a company motorcycle as they are treated as plant and not the same as a company car.
All running expenses and bike gear can be claimed (safety equipment).
Edited by sybaseian on Monday 24th October 08:53
sybaseian said:
I have had company motorcycles through my limited company.
The only issue at first, was my accountant wanted to know why I needed a company motorcycle and have a car allowance as well.
The accountant was told to sort it out and not to question why.
There is no personal tax liability on a company motorcycle as they are treated as plant and not the same as a company car.
All running expenses and bike gear can be claimed (safety equipment).
If there is private use of the bike, then the personal tax liability is 20% of the purchase price each year, plus 100% of the running costs if paid for by the company.The only issue at first, was my accountant wanted to know why I needed a company motorcycle and have a car allowance as well.
The accountant was told to sort it out and not to question why.
There is no personal tax liability on a company motorcycle as they are treated as plant and not the same as a company car.
All running expenses and bike gear can be claimed (safety equipment).
Edited by sybaseian on Monday 24th October 08:53
welsh blackbird said:
sybaseian said:
I have had company motorcycles through my limited company.
The only issue at first, was my accountant wanted to know why I needed a company motorcycle and have a car allowance as well.
The accountant was told to sort it out and not to question why.
There is no personal tax liability on a company motorcycle as they are treated as plant and not the same as a company car.
All running expenses and bike gear can be claimed (safety equipment).
If there is private use of the bike, then the personal tax liability is 20% of the purchase price each year, plus 100% of the running costs if paid for by the company.The only issue at first, was my accountant wanted to know why I needed a company motorcycle and have a car allowance as well.
The accountant was told to sort it out and not to question why.
There is no personal tax liability on a company motorcycle as they are treated as plant and not the same as a company car.
All running expenses and bike gear can be claimed (safety equipment).
Edited by sybaseian on Monday 24th October 08:53
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