mairead224
Registered User
- Messages
- 2
Hi All,
At the very early stages of setting up as a sole trader. Hopefully will have the business registered in August.
My car is on its last legs and I really need to purchase a nearly new one. It has been suggested to me to wait until the business is established and purchase one through the business in order to write off the capital depreciation per year.
I am unsure how this works? Would I not have to pay BIK that way?
This Car would be used for personal use also (prob 50/50 spilt) and would be looking at a 1.8 or 2l Diesel. I wouldn't be getting a commercial van or anything. In addition for the first year of business I don't think I would go over the VAT threshold so I more than likely wont be registering for VAT, if that matters.
As I said at the very early stages so at the moment no need for an accountant. So hoping you can help.
At the very early stages of setting up as a sole trader. Hopefully will have the business registered in August.
My car is on its last legs and I really need to purchase a nearly new one. It has been suggested to me to wait until the business is established and purchase one through the business in order to write off the capital depreciation per year.
I am unsure how this works? Would I not have to pay BIK that way?
This Car would be used for personal use also (prob 50/50 spilt) and would be looking at a 1.8 or 2l Diesel. I wouldn't be getting a commercial van or anything. In addition for the first year of business I don't think I would go over the VAT threshold so I more than likely wont be registering for VAT, if that matters.
As I said at the very early stages so at the moment no need for an accountant. So hoping you can help.