PCP through limited company?
Discussion
I've put a deposit down for the cheap Honda Eny1 deals that were available this week - https://www.pistonheads.com/gassing/topic.asp?h=0&...
I am self employed through my own limited company and in 40% tax bracket.
Are there any financial advantages on buying the Honda through my limited company?
If so, how will it work?
I am self employed through my own limited company and in 40% tax bracket.
Are there any financial advantages on buying the Honda through my limited company?
If so, how will it work?
AFAIK you can put through 100% of the purchase price (excluding extras) in the first year, and also interest on the PCP payments.
My accountant has been on at me to go full electric when I next change as I'm in the same position.
Unsure when you sell or hand back the car down the line if that part ex or gfv figure is then added back into accounts and a tax adjustment made?
My accountant has been on at me to go full electric when I next change as I'm in the same position.
Unsure when you sell or hand back the car down the line if that part ex or gfv figure is then added back into accounts and a tax adjustment made?
Tried that and below is the details after dis2with Honda and my accountant
1. The deal is personal only, so Honda won't be doing it via business.
2. To claim via business it has to be bch and not pcp..
3. You cannot claim the monthlies via business.
4. The mileage claim is the only option with 45p per mile for first 10k miles a year and then 25p..
However you can get charger claimed through business
1. The deal is personal only, so Honda won't be doing it via business.
2. To claim via business it has to be bch and not pcp..
3. You cannot claim the monthlies via business.
4. The mileage claim is the only option with 45p per mile for first 10k miles a year and then 25p..
However you can get charger claimed through business
I'm in the same position and also took the Honda deal last week.
Honda dealer had no issue with me ordering and financing the car via my company. Passed credit checks, deposit paid and car ordered.
Talked to the accountant and it looks like I can't claim the partial VAT back as I do on the current BCH electric car that I have (going back end March) but overall it still works out more cost effective than doing it on a personal basis - mainly due to the reduction on Corp Tax.
Honda dealer had no issue with me ordering and financing the car via my company. Passed credit checks, deposit paid and car ordered.
Talked to the accountant and it looks like I can't claim the partial VAT back as I do on the current BCH electric car that I have (going back end March) but overall it still works out more cost effective than doing it on a personal basis - mainly due to the reduction on Corp Tax.
JohnP said:
I'm in the same position and also took the Honda deal last week.
Honda dealer had no issue with me ordering and financing the car via my company. Passed credit checks, deposit paid and car ordered.
Talked to the accountant and it looks like I can't claim the partial VAT back as I do on the current BCH electric car that I have (going back end March) but overall it still works out more cost effective than doing it on a personal basis - mainly due to the reduction on Corp Tax.
which dealer was that pls... I have tried and was fobbed off lol Honda dealer had no issue with me ordering and financing the car via my company. Passed credit checks, deposit paid and car ordered.
Talked to the accountant and it looks like I can't claim the partial VAT back as I do on the current BCH electric car that I have (going back end March) but overall it still works out more cost effective than doing it on a personal basis - mainly due to the reduction on Corp Tax.
Gassing Station | Car Buying | Top of Page | What's New | My Stuff