Bringing a private commercial vehicle into a business

[V8mate]

If I buy a (bona fide!) commercial vehicle privately and then later start a Ltd company (and take on a director role), is there a clean and efficient way for me to beneficially bring my privately owned commercial vehicle into the company?

Or is the ability to claim a mileage allowance on all business miles done in my private vehicle a greater benefit than any other scheme would derive?

[V8mate]

Eric Mc said:

Am I right in assuming that this vehicle has not been used in a previous sole trader business where you were the sole trader?

Correct. Never used in connection with any business.

Do you think there would be an overall benefit to bringing it into the business. Or would I do better to keep it as an 'employee's own vehicle'?

[V8mate]

Thanks. Chances are that it'd be less than/around a year old.

[V8mate]

Brilliant, thank you

[V8mate]

How would the vehicle be treated for VAT? Any scope to incorporate any element of the (private) purchase VAT into the company's input VAT?

[V8mate]

Fair enough!