Would like to purchase EV through Ltd, private trade in
Discussion
Pretty set on getting either an ioniq 5 or ev6 through my company. Purchase outright as lease deals are terrible at the moment.
I have a car I own personally I'd like to trade in and mean less cash is required from ltd, how could I do this?
CBA to sell it privately nor have it on the drive as no room, and selling before pickup isn't an option as its used daily and the chance the new car is delayed.
Can my company either purchase my car off me day before swap over, and I pay 1 days worth of BIK, but not have to update new keeper slip etc, or ideally can it trade in on my behalf, and the value be added to my directors loan account so company can pay me back at a later date (and therefore not attract bik)?
I have a car I own personally I'd like to trade in and mean less cash is required from ltd, how could I do this?
CBA to sell it privately nor have it on the drive as no room, and selling before pickup isn't an option as its used daily and the chance the new car is delayed.
Can my company either purchase my car off me day before swap over, and I pay 1 days worth of BIK, but not have to update new keeper slip etc, or ideally can it trade in on my behalf, and the value be added to my directors loan account so company can pay me back at a later date (and therefore not attract bik)?
You'd have to speak to a (creative) accountant if you're trying to find ways of avoiding tax rather than asking a car forum.
However if it's just that you want to be able to drive to the dealer in the old car and drive away in the new one, rather than get rid of it by other means, I'm sure the dealer could separate the two transactions. They buy the old car off you for cash (either literally, or paid into your personal bank account), and your company buys the new car off them for the full amount. Its them up to you whether you transfer the cash from the old car into the company, and for accountants to work out the tax implications.
If the dealer can't do that WBAC, Motorway etc. should be able to do the buying old car part with fairly minimal hassle.
However if it's just that you want to be able to drive to the dealer in the old car and drive away in the new one, rather than get rid of it by other means, I'm sure the dealer could separate the two transactions. They buy the old car off you for cash (either literally, or paid into your personal bank account), and your company buys the new car off them for the full amount. Its them up to you whether you transfer the cash from the old car into the company, and for accountants to work out the tax implications.
If the dealer can't do that WBAC, Motorway etc. should be able to do the buying old car part with fairly minimal hassle.
Gassing Station | Car Buying | Top of Page | What's New | My Stuff