Member Since: 15 Mar 2017
Location: East Kent
Posts: 169
BIK position regarding Hardtops?
Aside from the reclaimable VAT are you Hardtop business owners benefiting from the £3,600 flat rate for personal use? My accountant is being a bit non committal and I don't want to place the order not knowing if I'm going to get clobbered into the private car category.
24th Jan 2023 8:50pm
camelman
Member Since: 27 Feb 2013
Location: Peak District
Posts: 3320
As long as its a genuine hardtop (without after market rear seats) you are ok to run it for personal use and be taxed on the £3960 (from April) BIK. Your business can also pay for all of your diesel (business and personal) if you declare the Van fuel benefit BIK of £757 (again from Apr 23).
Obviously as its a van, you are subject to the slower van speed limits on A roads and Dual carriageways.
If you have bought it between Apr 21 and Mar 2023, you can also claim super deduction tax loss of 130% of the vehicle value (pre vat) against your company profits.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
24th Jan 2023 9:08pm
