Buying a classic car through my Ltd company
Discussion
I know the answer is 'ask your accountant' but I'm just wondering if it makes any sense to buy a classic car through my Ltd company.
For info I have a Private hire company, there is no need for me to have a classic car on the books - I certainly couldn't use one for business purposes but basically there is more money in my company account than my personal one. I have bought and sold a couple of licensed vehicles used them briefly then sold for some profit but I wouldn't exactly class myself as a car trader.
I'm looking at an old Porsche 911, pre89 and values are around £40-£50k
Any pros/cons?
For info I have a Private hire company, there is no need for me to have a classic car on the books - I certainly couldn't use one for business purposes but basically there is more money in my company account than my personal one. I have bought and sold a couple of licensed vehicles used them briefly then sold for some profit but I wouldn't exactly class myself as a car trader.
I'm looking at an old Porsche 911, pre89 and values are around £40-£50k
Any pros/cons?
Gassing Station | Business | Top of Page | What's New | My Stuff