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Buy work bus through my company or personally

Mintcake

Member
London
Messages
54
Reaction score
50
Points
28
Location
London
First Name
Kendal
Elgrand
Looking to buy
Region
London
I've put a deposit on an Ne51, arriving 28th Jan so very excited!

I'll be using it for work but also as a weekend camper (non conversion). I'm just trying to work out whether to buy through my limited company or personally.

From my research it seems like buying as a works vehicle is a minefield (with 'benefit in kind', not classing as an expense for tax purposes and other implications).

I'm not sure if an Elgrand could even be categorized a work vehicle, I heard somewhere that it can be dependent on size/ weight and number of seats. The upside would be stumping up for the van through my business, also paying for all fuel, insurance, mot, road tax and repairs.

I am leaning towards buying it personally, meaning paying insurance and mot etc personally, and expensing work mileage to my business, as it seems less complicated and I think still more economical.

Any advise welcome?
 

tonymorrell

Well-Known Member
E50 Owner
Premium Member
North East
Messages
720
Reaction score
1,579
Points
223
Location
Middlesbrough
First Name
Antony
Elgrand
E50
Region
North East
I've put a deposit on an Ne51, arriving 28th Jan so very excited!

I'll be using it for work but also as a weekend camper (non conversion). I'm just trying to work out whether to buy through my limited company or personally.

From my research it seems like buying as a works vehicle is a minefield (with 'benefit in kind', not classing as an expense for tax purposes and other implications).

I'm not sure if an Elgrand could even be categorized a work vehicle, I heard somewhere that it can be dependent on size/ weight and number of seats. The upside would be stumping up for the van through my business, also paying for all fuel, insurance, mot, road tax and repairs.

I am leaning towards buying it personally, meaning paying insurance and mot etc personally, and expensing work mileage to my business, as it seems less complicated and I think still more economical.

Any advise welcome?
I looked into getting a van / bus on my business to... In the end I gave up on the idea. I think it only becomes beneficial for tax if you get a cab vehicle somthing that can be seen in a commercial light... It didn't help that my accountant is to honest 😂 its almost as though he never wants to save me any money 🙄
 

Mintcake

Member
London
Messages
54
Reaction score
50
Points
28
Location
London
First Name
Kendal
Elgrand
Looking to buy
Region
London
I looked into getting a van / bus on my business to... In the end I gave up on the idea. I think it only becomes beneficial for tax if you get a cab vehicle somthing that can be seen in a commercial light... It didn't help that my accountant is to honest 😂 its almost as though he never wants to save me any money 🙄
Thanks! Good to know, seems to reaffirm what I've been thinking. And sounds like we have the same accountant! :weary_face:
 

tonymorrell

Well-Known Member
E50 Owner
Premium Member
North East
Messages
720
Reaction score
1,579
Points
223
Location
Middlesbrough
First Name
Antony
Elgrand
E50
Region
North East
Thanks! Good to know, seems to reaffirm what I've been thinking. And sounds like we have the same accountant! :weary_face:
Just give yourself a pay rise instead 😜 I'm sure there was a huge Vat implication to for the company that made no sence to me as it was not a new vehicle.... Its been a few years since I looked into it though so I'm not certain.... Maybe someone else might know
 

roo32

Active Member
Premium Member
Messages
246
Reaction score
503
Points
143
Location
East Sussex
First Name
roo32
Elgrand
Looking to buy
I do a lot of miles working for my own company; we own our vehicles privately and claim mileage expenses. I work out it covers about 2/3rds of my costs, but I retain the flexibility of being able to use my car as I wish. With a work car I wouldn't be able to use it for travel classed as commuting, or at weekends without attracting tax.

That's as far as I understand it anyway.

With a thirsty bus like an Elgrand you would do well to work out the costs for your annual mileage then talk to your accountant about the most tax efficient way to run that vehicle.
 

Lacabrera

Active Member
Premium Member
South West
Messages
209
Reaction score
327
Points
123
Location
Somerset
First Name
Andrew
Elgrand
Looking to buy
Region
South West
I'll be writing my Elgrand purchase into my 2020/2021 accounts. The issue is what co2 emission class does it enter? Based on road tax its taxes on engine size. Any ideas
 

Breadman23

Here for life
Premium Member
E51 Owner
South West
Messages
1,237
Reaction score
2,822
Points
313
Location
Highcliffe dorset
First Name
Shaun
Elgrand
E51
Region
South West
Yes give yourself a pay rise, you'll need it for the fuel⛽⛽⛽⛽
 
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