Pick up/commercial 4x4 and putting through LTD Company
Discussion
I’ve got a small LTD Company running a couple of lorries and wondered if anyone could help with a couple of questions regarding buying a second hand pickup/commercial 4x4/van through the company too.
I’m currently throwing tools, the odd tyre, oil,parts and unfortunately an adblue container which leaked all over the boot in my Merc GL at the moment which is my personal car and not in any way to do with the company and wanted to check wether I’ve got the tax implications right regarding a pickup/van.
If I buy a used one and use it for getting parts etc as well as driving to and from home to where the trucks are parked is that ok?, I’d quite like to offset all running costs against the company as this is what 90% plus of my personal car use is at the moment.
With the trucks it was quite simple regarding buying it and paying VAT on top then reclaiming it but with some pickups they’re advertised as NO VAT, would I need to buy one where VAT was payable and reclaimable so discount any advertised as NO VAT.
I’m looking at something like a 08-10 L200 for 4-5k not anything newer as it’s going to be used as a workhorse and thankfully I can scrape by not needing ULEZ for it.
Any advice appreciated, I did ask my accountant and she said putting a smaller commercial vehicle through the company wouldn’t be an issue, just was unclear about the situation VAT wise on the purchase.
Any help would be greatly appreciated.
I’m currently throwing tools, the odd tyre, oil,parts and unfortunately an adblue container which leaked all over the boot in my Merc GL at the moment which is my personal car and not in any way to do with the company and wanted to check wether I’ve got the tax implications right regarding a pickup/van.
If I buy a used one and use it for getting parts etc as well as driving to and from home to where the trucks are parked is that ok?, I’d quite like to offset all running costs against the company as this is what 90% plus of my personal car use is at the moment.
With the trucks it was quite simple regarding buying it and paying VAT on top then reclaiming it but with some pickups they’re advertised as NO VAT, would I need to buy one where VAT was payable and reclaimable so discount any advertised as NO VAT.
I’m looking at something like a 08-10 L200 for 4-5k not anything newer as it’s going to be used as a workhorse and thankfully I can scrape by not needing ULEZ for it.
Any advice appreciated, I did ask my accountant and she said putting a smaller commercial vehicle through the company wouldn’t be an issue, just was unclear about the situation VAT wise on the purchase.
Any help would be greatly appreciated.
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