Westfield as a company car

[Somerset Jim]

New company car all sorted - see my other post.

 

It does make financial sense to run an older Westfield via a company 😀😀

[CraigHew]

Well done, i take it all back......😜

[Andy - a15cro]

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! 

[AlanHodge]

3 hours ago, a15cro said:

 

Its clear I need to find a new accountant! 

lol me too

[Kingster]

9 hours ago, a15cro said:

 

Its clear I need to find a new accountant! 

Or an older Westfield 😁