Buying Classic Truck through LTD Company

[DeanR32]

Good morning

I’m pining for a classic pick up truck (think 70’s Japanese, Datsun, Toyota), and wondered what the rules are for trucks through a limited company. I know the rules regarding payloads on the newer double cabs, but what about single cabs which may have only half ton payloads?

Is there age limits for vehicles, or maybe the truck must be sold with VAT to qualify?

There’s probably a million things I need to sort before a rusty old truck, but it’s on the agenda!

Cheers

[Eric Mc]

If it's a commercial vehicle (and not a motor car), then the normal commercial vehicle rules apply. It doesn't matter if the vehicle is brand new or second hand, new or old etc. The VAT situation does not affect the accounting or Capital Allowance situation either.

The basic rules regarding Capital Allowances on commercial vehicles are based on the vehicle being within the definition of a commercial vehicle and being for business purposes - and it doesn't really matter if the business is a sole tradership, a partnership or a limited company.