How to buy electric car through company? Can't get EV grant to buy personally and sell to company?

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flyingfolly

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Hi guys, I'm planning to buy an MG EV4 as its pretty affordable and under the limit to get the benefits of BIK in the company.

I've been told you can't get the 5k grant through the company but you could potentially buy it personally (get the grant), then sell it back to the company. Has anyone done this before? Do you literally put the company name on the VRC?
 
You could buy it, then transfer ownership to company, so they would be 2nd owner, on claiming capital allowances, you can't claim ACA where you can take full cost in first year, as its not new, so can claim 12.5% capital allowance per year.

That's my understanding,
 
There are several existing threads on the issues involved in buying a vehicle through a company that might be worth searching for and reading.
 
@flyingfolly
Here's one, but I think the BIK position has changed since.

Case study - Company Provided Electric Car - Tax Workings Review

Hi, I've been considering the purchase of an electric vehicle (eg: VW ID.4) through my company and have been crunching the numbers to see if there is any benefit going through the company versus paying down the money from the company as usual and buying it from after-tax income. Assumptions...
www.askaboutmoney.com
 
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