Somerset Jim Posted November 19, 2020 Share Posted November 19, 2020 Has anyone investigated using a Westfield as a company car? It will obviously attract some benefit in kind tax but as it's not really possible to establish a list price from 18 years ago or work out the emissions for re-worked engines none of the online calculators or HMRC advice seems relevant. Would be nice if company bought and ran it for me. 😀😀 Quote Link to comment Share on other sites More sharing options...
CraigHew Posted November 19, 2020 Share Posted November 19, 2020 I think youre having a Turkish.....🤡 Quote Link to comment Share on other sites More sharing options...
Kingster Posted November 19, 2020 Share Posted November 19, 2020 15 minutes ago, CraigHew said: I think youre having a Turkish.....🤡 No he’s avvin a Giraffe 😜 Quote Link to comment Share on other sites More sharing options...
Terry Everall Posted November 19, 2020 Share Posted November 19, 2020 I dont think it would be a good idea 🥶 Quote Link to comment Share on other sites More sharing options...
Alan France Posted November 19, 2020 Share Posted November 19, 2020 A Camaro Z28 was my company car for three years and 76,000 miles, same tax band as the Space Shuttle. 3 Quote Link to comment Share on other sites More sharing options...
ianali Posted November 19, 2020 Share Posted November 19, 2020 I had a 1970s Elan as my company car from 2009 to 2016. Sold it when i retired. Pretty sure the company car tax was based on the cars original list price and engine size. Was cheap tax wise, running costs a different matter 😳 Quote Link to comment Share on other sites More sharing options...
SXRORY Posted November 19, 2020 Share Posted November 19, 2020 I really like my car but after few hours in it, the novelty starts to wear off. not sure about a company hack somehow Quote Link to comment Share on other sites More sharing options...
Somerset Jim Posted November 19, 2020 Author Share Posted November 19, 2020 Serious question. It’s my company so only considering it to save using my personal money. Obviously I’d hardly do any company miles in it. Quote Link to comment Share on other sites More sharing options...
TAFKARM Posted November 19, 2020 Share Posted November 19, 2020 3 minutes ago, Somerset Jim said: Serious question. It’s my company so only considering it to save using my personal money. Obviously I’d hardly do any company miles in it. Isn’t that fraud? Quote Link to comment Share on other sites More sharing options...
Ian Kinder (Bagpuss) - Joint Peak District AO Posted November 19, 2020 Share Posted November 19, 2020 I've ran both an MR2 and then an Impreza Turbo as company car, in a role as a UK wide service Engineer in the late 1990's. Insurance was my responsibility and it was loaded by 10% to cover visits to customer sites for pre-arranged visits etc. Company paid mileage allowance and I was expected to fund the car as 'part of my role'. Quote Link to comment Share on other sites More sharing options...
stephenh Posted November 19, 2020 Share Posted November 19, 2020 I think the real question is one of tax. It can hardly be fraud on his own company, if he owns the company. However, if you have more than one car, I suspect that it makes more sense to treat the car in which you do the most miles as your company car, and by the sound of it, that wouldn't be your Westfield, unless of course your other "car" is actually a work van which is used solely for work and therefor not treated as a benefit in kind, whereas with the Westfield you would be taxed on it's running costs as a benefit in kind, and if I remember correctly on a percentage of it's initial capital cost (although I'm very out of date on taxation, particularly in relation to a director of a company). I'd strongly suggest that you should be asking your accountant assuming you use one to do your company accounts and tax, rather than on this (public remember) forum. 1 Quote Link to comment Share on other sites More sharing options...
CraigHew Posted November 19, 2020 Share Posted November 19, 2020 Just now, Ian Kinder (Bagpuss) - Joint Peak District AO said: I've ran both an MR2 and then an Impreza Turbo as company car, in a role as a UK wide service Engineer in the late 1990's. Insurance was my responsibility and it was loaded by 10% to cover visits to customer sites for pre-arranged visits etc. Company paid mileage allowance and I was expected to fund the car as 'part of my role'. That's not quite s company car then.... Mine was 3 yr lease, insured, mileage paid, servicing and consumables paid. NHS .... 1 Quote Link to comment Share on other sites More sharing options...
CraigHew Posted November 19, 2020 Share Posted November 19, 2020 16 minutes ago, Somerset Jim said: Serious question. It’s my company so only considering it to save using my personal money. Obviously I’d hardly do any company miles in it. If it were that simple we'd all set up our own company for £25, buy a "company car" then have our family, sorry, company directors, round for xmas lunch meeting on xmas day....etc, etc... 1 Quote Link to comment Share on other sites More sharing options...
TAFKARM Posted November 19, 2020 Share Posted November 19, 2020 7 minutes ago, stephenh said: I think the real question is one of tax. It can hardly be fraud on his own company, if he owns the company. However, if you have more than one car, I suspect that it makes more sense to treat the car in which you do the most miles as your company car, and by the sound of it, that wouldn't be your Westfield, unless of course your other "car" is actually a work van which is used solely for work and therefor not treated as a benefit in kind, whereas with the Westfield you would be taxed on it's running costs as a benefit in kind, and if I remember correctly on a percentage of it's initial capital cost (although I'm very out of date on taxation, particularly in relation to a director of a company). I'd strongly suggest that you should be asking your accountant assuming you use one to do your company accounts and tax, rather than on this (public remember) forum. I meant HMRC fraud. Quote Link to comment Share on other sites More sharing options...
ianali Posted November 19, 2020 Share Posted November 19, 2020 17 minutes ago, Rush Motorspurt said: I meant HMRC fraud. Why is it fraud? As I said earlier, I ran an Elan as my company car. Perfectly legal, according to my accountant. I fail to see any problem here? Quote Link to comment Share on other sites More sharing options...
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