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Any advantage in having a company scooter?

Posted: Mon Oct 08, 2012 5:36 pm
by Steve_D
As above. Is there any advantage (apart from not having to fork out your own dosh) in having a scooter as a company car? How does it work? Whats the tax lability on a £4400 scooter? Can the company pay all associated expenses - tax, fuel, insurance, helmet, gloves, jacket etc? Surely I'd be better off with running and deprecation costs-V-tax increase?

Re: Any advantage in having a company scooter?

Posted: Mon Oct 08, 2012 5:58 pm
by Data
Yes Steve, you could be better off. I've registered some of my cars to my company and it's pretty much the same thing. But it's not always as simple as you might think. You must download and read the Customes & Excise Guide to using your vehicle(s) for company use. Remember, if you register the bike as a company bike, or a bike you use for your business, it's only viable if you actually do use it for your business. You can only claim for expenses actually accumulated for the business, such as petrol costs, insurance, tax, servicing etc. If you are VAT registered you must keep an accurate record of the actual mileage you do in conjunction with your business and your private mileage too so you could claim back some VAT or a portion of it. You cannot claim for private miles. But it's a minefield and although you can depreciate your bike over 4 years, it may not be worth it even then as there are so many regs.

Re: Any advantage in having a company scooter?

Posted: Mon Oct 08, 2012 6:45 pm
by bornagainbiker
Hi Steve, here is the HMRC Expenses and Benefits 480 (2012) booklet, rules change all the time. A long read but all the information will be given in here or ask a good accountant.

http://www.hmrc.gov.uk/guidance/480.pdf

Re: Any advantage in having a company scooter?

Posted: Mon Oct 08, 2012 7:47 pm
by Ferrit
The biggest mistake people make is not recording the commute to and from work as private mileage.