From:  Staffbull 
Newsgroups: uk.finance
Subject: Re: car purchase against business
Date: Fri, 06 Jul 2007 08:13:08 -0700
   posting-account=MmVKTQ0AAABQIQzSQhGuSmdX6IHhx6jr
Bytes: 2439

On 5 Jul, 18:16, Troy Steadman  wrote:
> On 5 Jul, 16:54, Staffbull  wrote:
>
> > Hi, would anyone be able to tell me what if anything I can claim for
> > with regards purchasing a new car against a self emplyed business?
>
> > I have found some inforamtion regards low CO2 emitting cars but it
> > does not make any sense !!
>
> > Laymans terms please :-)
>
> > Many thanks in advance.
>
> It depends on your business. It depends on your business and private
> mileage.
>
> If the business buys the car you claim:
>
> Capital Allowances - write off the cost in a seperate plant pool.
> All Motor Expenses - RFL, Insurance, Repairs, Petrol
> VAT on all the above if you are registered.
> ...but not the VAT on the cost of the car unless you are a taxi firm
> etc
>
> If you keep the car "private" you can charge your business a tax-free
> 40p a mile for business use, provided you keep a log, reducing to 20p
> after however-many-it-is miles - by concession from HMRC. You can also
> reclaim the VAT on the petrol if you are VAT registered.

Thanks, if I buy the car through the business can I use it for
personal use? providing I pay mileage etc