Directors company car

[pacenotes]

Can I put through insurance, tax & break down through the company for a company car?

My accountant is off sick at the moment so they couldn't tell me.

It's also electric so can I put through the car charger at home If it makes it any difference I work from home 100% of the time.

[drmike37]

You can put everything (tax, ins, tyres, servicing etc) bar the cost of electricity at home through the business.
A year or so ago my ltd co also paid for my home charger. You’ll have to check if this is still ok.
As far as I know, charging while out and about is ok too.

[Eric Mc]

A company can put anything it likes through its books related to the personal costs of its directors. Howwever, there are two important aspects that always need to be considered -

a) can the company claim these costs as legitimate business expenses?

b) what are the taxable (and NI able) benefit in kind implications for the director?

[ChevronB19]

Eric Mc said:

A company can put anything it likes through its books related to the personal costs of its directors. Howwever, there are two important aspects that always need to be considered -

a) can the company claim these costs as legitimate business expenses?

b) what are the taxable (and NI able) benefit in kind implications for the director?

If you WAH 100% of the time, how can it be claimed as a business expense? (Genuine question, I don’t know this stuff as is obvious)

[Eric Mc]

ChevronB19 said:

If you WAH 100% of the time, how can it be claimed as a business expense? (Genuine question, I don’t know this stuff as is obvious)

WAH?
Working at Home?

I didn't say you COULD claim it as a business expense. The question was, can a company pay for such expenses? The answer is, yes it can, but there will most likely be tax implications for both the company and the director.

[ChevronB19]

Eric Mc said:

ChevronB19 said:

If you WAH 100% of the time, how can it be claimed as a business expense? (Genuine question, I don’t know this stuff as is obvious)

WAH?
Working at Home?

I didn't say you COULD claim it as a business expense. The question was, can a company pay for such expenses? The answer is, yes it can, but there will most likely be tax implications for both the company and the director.

Wasn’t aimed at you old chap (or anyone), as I said I have no understanding of this stuff, so it was a simple question from a low base.

[Eric Mc]

Was your question answered? Did you understand my explanation?

[ChevronB19]

Eric Mc said:

Was your question answered? Did you understand my explanation?

Jeez. Bad day today?

[Eric Mc]

ChevronB19 said:

Eric Mc said:

Was your question answered? Did you understand my explanation?

Jeez. Bad day today?

No. Genuinely curious. Are you clear on what I was trying to say?

This is what I do every day as these types of questions are pretty normal for me.

When people ask questions about whther they can do this or that in business, the answers are not always straightforward.

[pacenotes]

ChevronB19 said:

If you WAH 100% of the time, how can it be claimed as a business expense? (Genuine question, I don’t know this stuff as is obvious)

Good point, it’s not 100% of the time as I’m on the road a bit, what I meant was I dont travel to a office kind of thing.

[Eric Mc]

HMRC does allow some offset of expenses incurred by an individual if they are working from home. The rules are a bit different depending on whether you are an employee or whether you are running your own business (self-employed or through a limited company).

There is plenty of guidance on the HMRC website.