Telsa through my company?

[bp1000]

I admit i know NOTHING about BIK and incentives and how it is calculated.

I'm very interested in a Tesla and have a company i could put it through. The model i like is 75k

How i see this is, 100% write down on company profits for purchasing outright? Also i can reclaim the VAT on the purchase price? So it is essentially 60k. As i make sure my dividend is always in the 40% tax bracket.

But BIK is 0% but this goes up to 5% in April 2015. If i buy it now, does it stick to 0% or does it go up for me in April 2015, i assume the later? Is it still 5% of the full purchase price even in year 1? It seems to go up to 7% after this too so it starts to get very expensive!


Also i may have this completely wrong but it seems this will only cost me 36k as if i was to take out my own money. 75k - VAT = 60k... then as a 40% tax payer its 36k.

I will talk to my accountant but i'm just trying to understand the basic facts.


thanks

[Eric Mc]

The BIK will go up each year it changes and it will always be based on the original list price of the vehicle.

[mikef]

I thought you couldn't reclaim VAT on purchase, only on leasing/contract hire

http://www.hmrc.gov.uk/vat/managing/reclaiming/mot...

[bp1000]

Cheers I realised then I couldn't get the vat back and the bik increases.

I actually just bought the dullest most boring car of my life. A used 4 year old white t-spirit prius. Was in top condition with a good discount so much smaller cost, new tyres and just serviced and mot-d. Plus wife works for toyota so servicing and any repairs would be cheap too.

Man maths aside it's actually going to cost me less to run it alongside the xfr as the depreciation on xfrs with high mileage jumps quite a bit.

I could never own a prius as an only car but makes a lot of sense to commute in and I can claim 40p a mile.

Once tesla install charge points nationally and no more cars catch fire I will certainly be looking in a couple of years.