Buying a Van, LTD company - Questions

[dojo]

I have a LTD company. (But not VAT registered)

Currently I have a car I owe personally and I claim 45p per mile back against the company.

I was thinking of buying a van through the company.

I will still need to the use the car a lot so first question is if I own a company van can I still claim personal miles.

Also do I just put the whole of the van through against the company accounts in the year I bought it?

If I use the van for any personal use how does that work?

THanks in advance

[Eric Mc]

Buying the van through the company allows the company to make a Capital Allowance claim on the full cost of the van. This claim can be up to 100% so it is a very good tax break. Motor cars are not eligible for this level of Capital Allowances.

All the running costs of the van can be put through the company accounts as legitimate business related costs.

If you do use your personal car now and then for a business related trip, you can still claim 45p per mile for those trips.

If you use the company van for personal journeys, there will be a PAYE Benefit in Kind charge - but the charge for use of a van is a lot lower than the charge for use of a company car.

[dojo]

So it works out as quite a nice little tax break. I think I will def look into it further