Paul Bailey's new Venture - all his cars for hire!
Discussion
jeff666 said:
andrew said:
Wow,KFC comes across as a giant strap on in that thread, really no need for it.
I'm sure any revenue this brings in is welcome to PB, but I'd imagine this venture is largely driven by the fact it will allow tax relief to be claimed on the vehicles and their maintenance costs, as mentioned above.
With the size of fleet PB has, that tax relief will run to lots of ££££££££'s. A smart cookie like him wouldn't miss such an opportunity - I doubt he's doing it because he needs the money.
A pal of mine once bought a second business close to where he had a holiday home. The second business was only ever going to break even at best, but owning it meant his helicopter trips from home to the area classed as business travel, so tax relief and VAT reclaim on the chopper. He visited the business at weekends, and may or may not have popped to the holiday home round the corner whilst he was there
With the size of fleet PB has, that tax relief will run to lots of ££££££££'s. A smart cookie like him wouldn't miss such an opportunity - I doubt he's doing it because he needs the money.
A pal of mine once bought a second business close to where he had a holiday home. The second business was only ever going to break even at best, but owning it meant his helicopter trips from home to the area classed as business travel, so tax relief and VAT reclaim on the chopper. He visited the business at weekends, and may or may not have popped to the holiday home round the corner whilst he was there
LB14 said:
I'm sure any revenue this brings in is welcome to PB, but I'd imagine this venture is largely driven by the fact it will allow tax relief to be claimed on the vehicles and their maintenance costs, as mentioned above.
With the size of fleet PB has, that tax relief will run to lots of ££££££££'s. A smart cookie like him wouldn't miss such an opportunity - I doubt he's doing it because he needs the money.
A pal of mine once bought a second business close to where he had a holiday home. The second business was only ever going to break even at best, but owning it meant his helicopter trips from home to the area classed as business travel, so tax relief and VAT reclaim on the chopper. He visited the business at weekends, and may or may not have popped to the holiday home round the corner whilst he was there
I am no tax expert but if he claims tax relief against insurance costs and maintenance etc that's ok, but then would the cars not also be subject to CGT and on one or two of his special cars that could outpost the reliefs -no? You can't have your cake and eat it? With the size of fleet PB has, that tax relief will run to lots of ££££££££'s. A smart cookie like him wouldn't miss such an opportunity - I doubt he's doing it because he needs the money.
A pal of mine once bought a second business close to where he had a holiday home. The second business was only ever going to break even at best, but owning it meant his helicopter trips from home to the area classed as business travel, so tax relief and VAT reclaim on the chopper. He visited the business at weekends, and may or may not have popped to the holiday home round the corner whilst he was there
DarrenKMC said:
He hasn't always been 'the millionaire Paul Bailey' and as I think someone mentioned earlier Selena has been there long before those days.
I've known him for around 8 years, haven't a bad word to say and never have heard one from anyone else who knows him, lovely guy.
i bump into Paul quite often, sometimes on these events that his cars are hired for. He's a really nice down to earth guy actually and think some of the opinions about here are off the mark, perhaps from people who don't know him personally.I've known him for around 8 years, haven't a bad word to say and never have heard one from anyone else who knows him, lovely guy.
This car-hire angle is already being done (at the more reasonable end of the market)
https://www.hirethisclassiccar.com/find-a-car
I think this bloke is Toby Moody from Eurosport...
https://www.hirethisclassiccar.com/find-a-car
I think this bloke is Toby Moody from Eurosport...
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