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  • Tax

    Purchasing Company Van

    My accountant is currently away on holiday, so I thought I would ask here.

    Is the below scenario tax efficient through my limited company, or should I just purchase privately? I have looked online but cannot see an answer that relates to myself:

    * Van cost around £1000

    * Will be used for business only - no personal milage

    * Will have the business name on the vehicle

    * Company Directors will be insured.

    Any advice appreciated.

    Darren

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    I run a Landover Defender in my own name my accountant advised me to keep records of millage for business use

    Just completed my first year within the company and I have claimed over 2k this year all tax free

    I can see why you should not buy the van in your own name and run it

    at a cost of £1000 you could make it work well


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    Learn Change and Adapt ?????

    I am claiming the 45p per mile at the moment. If the van is bought through the company, is this no longer claimable (or do you just claim fuel)?

    Out of curiosity, do you log every journey or just estimate for your personal mileage?

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    I record all my trips using Google maps parking charges too

    I like to be as precise as I can and its surprising how fast it mounts up

    a little bit of paperwork for tax free cash is worth the effort

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    Learn Change and Adapt ?????

    I currently do the same on a spreadsheet.  Read that it was best to document just to cover your own back.

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    I bought what is basically a van (an MPV!) from my own money and run it using the 45p/mile ruling.

    I take a phone picture of the start and end mileage and a picture of where I've gone to. I also keep a book listing each journey.

    I'd be worried about buying a £1k van tbh, it'll probably be horrendous!

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    Why would it be horrendous?

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    It will have been abused to within an inch of its life. Best of luck if you do find one at that price point.

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    Ok, best of luck, I'll bow out of this one.

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    One thing to consider is that many council dumps are starting to charge or refuse to allow vans in

    Now with a MPV with the seats removed it is a sort of van.

    But as far as the council is concerned

    It is a car!

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