Somerset Jim Posted November 29, 2020 Author Share Posted November 29, 2020 New company car all sorted - see my other post. It does make financial sense to run an older Westfield via a company 😀😀 1 Quote Link to comment Share on other sites More sharing options...
CraigHew Posted December 1, 2020 Share Posted December 1, 2020 Well done, i take it all back......😜 Quote Link to comment Share on other sites More sharing options...
Andy - a15cro Posted December 2, 2020 Share Posted December 2, 2020 On 21/11/2020 at 14:25, Somerset Jim said: Initial response from accountant is positive! The reducing benefit of company cars is only for newish ones - older ones (15 years plus) are treated differently so remain an efficient way of utilising company money (that isn't earning interest anyway). Company will buy, insure, tax and maintain - I'll just add petrol for personal use and pay extra income tax on any personal miles based on original list price (£4,000 ish) and engine size. Some Capital Gains implications if it were to rocket in value and I sold it - but no plans to do that at present. Just got to find a car that suits now and then ask the CEO (which is me 😀) for approval. Its clear I need to find a new accountant! Quote Link to comment Share on other sites More sharing options...
AlanHodge Posted December 2, 2020 Share Posted December 2, 2020 3 hours ago, a15cro said: Its clear I need to find a new accountant! lol me too 1 Quote Link to comment Share on other sites More sharing options...
Kingster Posted December 2, 2020 Share Posted December 2, 2020 9 hours ago, a15cro said: Its clear I need to find a new accountant! Or an older Westfield 😁 Quote Link to comment Share on other sites More sharing options...
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