race car in a company
Discussion
thanks, but I think that route it a no-go with hmrc.
I'm not looking to evade any bik, just wanted to know a few parameters... like
1) what is the rate of BIK... I heard is was 20% of the purchase price annually... so, 8% actual tax on the purchase price per year...
2) if a race car has subsequently become road-registered (like a group N car), could it be taxed as a BIK as above (presuming it was SORN'ed), rather than as an road-car?!
thanks
Mark
I'm not looking to evade any bik, just wanted to know a few parameters... like
1) what is the rate of BIK... I heard is was 20% of the purchase price annually... so, 8% actual tax on the purchase price per year...
2) if a race car has subsequently become road-registered (like a group N car), could it be taxed as a BIK as above (presuming it was SORN'ed), rather than as an road-car?!
thanks
Mark
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