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Post by ozzy on Sept 30, 2012 14:05:47 GMT 1
would like to know if any one is self employed who as or is it possible to buy and put a motorcycle through ya book s..  cheers Oz |
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Post by fatfredfaefife on Sept 30, 2012 17:09:20 GMT 1
I am self-employed but don't put any of my bikes through my business.
You can do it but only if you can show the taxman that you genuinely use it for business use, and you will only be allowed to claim a percentage of costs.
Also when you sell it, it will be looked upon as an asset and liable to tax.
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Post by steve h on Sept 30, 2012 19:22:43 GMT 1
Get a big flash Merc for the mrs instead and say its for" business use"
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Post by ozzy on Sept 30, 2012 21:14:16 GMT 1
Get a big flash Merc for the mrs instead and say its for" business use" lol cheers steve, but dont want a car... ;D thought i could get new bike to look at jobs to quote...  sure i read once uppon a time in mcn it was possible some were.. |
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Post by raven13 on Sept 30, 2012 21:29:39 GMT 1
im gessing it should be possible, it will be subject to the same taxation as a normal company car. talk to your accountant they will probly know exactly what you can and cant do.
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Post by steve h on Sept 30, 2012 22:32:27 GMT 1
My old fella used to use a bike for "business use" A 350 Ariel with a sidecar, with a pair of ladders tied on top of the chair, for window cleaning!!
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Post by Paul Dawkins on Oct 1, 2012 5:40:49 GMT 1
Its not worth the risk.
Even a company car is not worth having, use your own and claim mileage.
I never claimed anything that was not a genuine expense, once they catch you they will never leave you alone.
Your better off doing a few cash jobs but of course I would never do this.
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Post by theodoric on Oct 1, 2012 11:50:11 GMT 1
I would say you would be better off avoiding the idea and as Paul has mentioned claim the mileage on your own.
My accountants thought is so long as you are giving the chancellor something every year he'll leave you alone, if you take the *iss too much you may as well tattoo a cross on your head.
JMHO.
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Post by Norbo on Oct 2, 2012 7:36:22 GMT 1
Simple answer is yes you can i have done it .
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cooler
Thrash Merchant
Posts: 490
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Post by cooler on Oct 2, 2012 15:08:39 GMT 1
motorcycles are now classed as plant and machinery.....still worthwhile to have a genuine use for the business though....friend of mine runs a garage out in the sticks and bought a brand new gsxr as a PARTS bike incase he had to get parts for a customers car quickly.....I looked into it and my accountant said it would be fine for me as im in the courier game....urgent deliveries etc..... |
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tph600
Weekend rider
Posts: 76
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Post by tph600 on Oct 3, 2012 7:52:36 GMT 1
yes you can put bike through your books and if your vat registered like me you can claim full amount back that equates to £2000 on a £10000 bike .and also you,ll get an anuall depreciation value against your tax
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