Personal Vehicle for Business Use.

[VEX]

I have just personally bought a pick up truck for my business use, it was a crackin price, and the lease on my old one has ended so it has gone back.

So the question is, do I need to go back to tracking my mileage for each individual trip or has it got easier for small businesses now?

It is only going to be used as a business vehicle so it should be easy to track and I will be able to charge the business 40P per mile.

V.

[VEX]

Eric Mc said:

Is your business a limited company?

Yes it is limited.

Does that make a difference?

V.

[VEX]

i understand all the vat and business implications of what I have done, don't worry there where some very specific reasons for doing it which far out weigh the advantages of it being a business purchase.

So, do I still have to itemise my journeys and mileage for business use?

V.

[VEX]

I don't know, it's been 10 years since I last had to do this side of it.

Hence the reason for asking the question.

V.

[VEX]

Not when there we a big advantage to me buying it privately.

So, I still need to make a list of everywhere I went and now many miles it took?

V.

[VEX]

Insurance is all sorted, it has just transferred from the old identical pickup truck to this one.

Provided by Insurance Jon of this neighbourhood and full business cover.

Thanks for taking time to actually answer the question.

Any good tracker apps for the iPhone?

V