Scrappage & capital allowances

[williaa68]

I have an ancient and rather knackered volvo, probably worth <£1,000 which currently qualifies for all of the myriad of different scrappage schemes. I also have a company with excess cash. I would ideally like to trade in my volvo against a shiny new e-golf or golf gte (or similar) but have the new car bought by the company to take advantage of the 100% capital allowances on ultra low emissions vehicles. The combination of the two and the v low BIK charge for the car going forward make this, I think, quite attactive.

Unfortunately it seems all of the scrappage schemes require the invoice & registered owner of the new vehicle to be the same as the owner of the old vehicle who has to have owned the car to be scrapped for >6 months. I cant buy the new car in my own name and immediately sell it to the company as to claim the capital allowances the car has to be new and unused.

Anybody got any bright ideas, please?

thanks in advance.

Andrew

[Ean218]

williaa68 said:

Unfortunately it seems all of the scrappage schemes require the invoice & registered owner of the new vehicle to be the same as the owner of the old vehicle who has to have owned the car to be scrapped for >6 months.

You may want to bear in mind that there is no such thing as a registered owner, there is a registered keeper but that is not the same thing as the owner.

[TooMany2cvs]

williaa68 said:

Unfortunately it seems all of the scrappage schemes require the invoice & registered owner of the new vehicle to be the same as the owner of the old vehicle who has to have owned the car to be scrapped for >6 months.

Bear in mind that, unlike the old government-backed scrappage, this is purely a manufacturer-run marketing deal. As such, it's entirely in the manufacturer's hands who gets the money and who doesn't...

I'm sure a dealer will be able to get you somewhere very close, if they think there's a sale resting on it.

[williaa68]

Thanks both very much. The registered keeper thing is a good point but sadly dealers so far have been remarkably uncooperative - i'll keep trying unless anyone else has any good ideas (Eric...)?

[williaa68]

ok, just a quick update. I found a cooperative dealer in the end - happy for the invoice to be to me at company at home address (also company address), V5 to me. Company has paid the deposit and will pay for the car (when it turns up) so all good. It means the company benefits from the scrappage allowance but as the car is worth bog all other than as scrap it is no loss to me.