Buying car through ltd co

Buying car through ltd co

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Discussion

der1

Original Poster:

656 posts

139 months

Monday 17th April 2017
quotequote all
As the title suggests I'm weighing up the prospect of using spare cash in my ltd co to purchase a car.

Accountant has advised against it as I'll have to pay Bik etc.

The way I see it is the cash is there and there's cash available to pay any tax liability so what's the big deal...

der1

Original Poster:

656 posts

139 months

Monday 17th April 2017
quotequote all
Excuse my ignorance but Do hmrc have a "calculator" of sorts to work out the yearly tax ?

der1

Original Poster:

656 posts

139 months

Monday 17th April 2017
quotequote all
Thanks for that!

RRS svr but on second thoughts I'll pass!!

der1

Original Poster:

656 posts

139 months

Tuesday 18th April 2017
quotequote all
Eric, would I not still pay roughly £40k in tax going down the dividend road ?