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Motorcycle Forum / Country Specific / UK Group / November 2007Anyone know the tax implications of a bike?
If my business buys me a bike, does anyone know the tax implications? I know about cars, but the info seems a bit thin on the ground. I know it counts against your tax etc, but what %? I'm thinking of a Ducati 1098s  SignatureNige, talking utter shite since 1967. Ducati 916 BMW K1100LT MT-03 Focus ST3 Land Rover Discovery Xtreme Range Rover 4.6 HSE NIGE#1 > If my business buys me a bike, does anyone know the tax implications? > I know about cars, but the info seems a bit thin on the ground. > > I know it counts against your tax etc, but what %? > > I'm thinking of a Ducati 1098s Heh they don't make it very good. Google this group for details. SignatureHog '03 ST4S '96 Bastard12 '89 R100RS '81 XS650 '78 RD400 > If my business buys me a bike, does anyone know the tax implications? I > know about cars, but the info seems a bit thin on the ground. When I was EKS (pre 2000) it was treated as a van, so a basic 20% tax and I was able to claim all fuel. It was VAT deductable Safety gear was also alllowed. But things may have changed > I know it counts against your tax etc, but what %? > > I'm thinking of a Ducati 1098s SignatureXJR1300SP, XJ900F, GS550, GSX250, 750SS POTM#1(KoTL), WUSS#1 , YTC#1(bar), OSOS#2(KoTL) , DS#3 , IbW#18 ,Apostle#8 *(Emails to the posted address will be ignored)* "The internet is a huge and diverse community and not every one is friendly" http://www.ytc1.co.uk There *is* an alternative! http://www.openoffice.org/ Get the Software http://wwws.sun.com/software/solaris > If my business buys me a bike, does anyone know the tax implications? I > know about cars, but the info seems a bit thin on the ground. > > I know it counts against your tax etc, but what %? > > I'm thinking of a Ducati 1098s Unless the rules have changed, and you *only* use it for work purposes, then it has no impact at all. The company can reclaim the VAT on fuel and servicing as well. Also when we did it the company bought all the kit and passed it through as business costs with no issues. HTH SignatureCatman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 156 TS 145 2.0 Cloverleaf 156 V6 2.5 S2 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk > > If my business buys me a bike, does anyone know the tax > > implications? I know about cars, but the info seems a bit thin on [quoted text clipped - 6 lines] > Unless the rules have changed, and you only use it for work purposes, > then it has no impact at all. That's my understanding as well, but as my accountant pointed out, it's not *that* easy to convince HRMC that it's 100% for work purposes, even if you have a garage full of bikes and several other vehicles at your disposal. So it would be prudent to assume the 20% tax liability. SignatureMorini Corsaro 125 | CB450K4 | XL250 Motosport | 900SSD | R1150RT Laverda SF2|Harley FXD BOTAFOF #33 TWA#10 The UKRM FAQ: http://www.ukrm.net/faq/index.html "Je profite du paysage" - Joe Bar snip. > > > If my business buys me a bike, does anyone know the tax > > > implications? I know about cars, but the info seems a bit thin on > > > the ground. I dont know a huge amount about taxation but a few years ago I was speaking to some guys who always did their own tax returns and they were saying you can claim for loads of stuff, even down to insurance costs and AA cover. Might be worth phoning HRMC and asking if you can claim for buying an optimate to keep the battery "maintained", paddock stands, scottoiller etc The fun implication, is rated at 100% >>> If my business buys me a bike, does anyone know the tax >>> implications? I know about cars, but the info seems a bit thin on [quoted text clipped - 11 lines] > if you have a garage full of bikes and several other vehicles at your > disposal. So it would be prudent to assume the 20% tax liability. I never had any issues. I kept every receipt and logged my mileage to and from clients. SignatureCatman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 156 TS 145 2.0 Cloverleaf 156 V6 2.5 S2 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk >>>> If my business buys me a bike, does anyone know the tax >>>> implications? I know about cars, but the info seems a bit thin on [quoted text clipped - 4 lines] >I never had any issues. I kept every receipt and logged my mileage to >and from clients. That's pretty much the way to do it... > >>> If my business buys me a bike, does anyone know the tax > >>> implications? I know about cars, but the info seems a bit thin on [quoted text clipped - 14 lines] > I never had any issues. I kept every receipt and logged my mileage to > and from clients. Just out of interest, what are the insurance implications? My policies are always SDP + commuting to/from 1 place of work. Does it tend to be lots more if you include riding for business purposes? If it is more expensive and you use the bike for work and personal, can you claim the difference as an expense? > Just out of interest, what are the insurance implications? My policies > are always SDP + commuting to/from 1 place of work. Does it tend to be > lots more if you include riding for business purposes? If it is more > expensive and you use the bike for work and personal, can you claim > the difference as an expense? I always include class 1 business use just in case and it costs about a tenner. Signatureogden sv650 & rgv250 >>>>> If my business buys me a bike, does anyone know the tax >>>>> implications? I know about cars, but the info seems a bit thin on [quoted text clipped - 13 lines] > are always SDP + commuting to/from 1 place of work. Does it tend to be > lots more if you include riding for business purposes? No, it was a few tens of pounds IIRC. >If it is more > expensive and you use the bike for work and personal, can you claim > the difference as an expense? If you use a personal bike for work, I would expect that you'd have to negotiate that with the employer. SignatureCatman MIB#14 SKoGA#6 TEAR#4 BOTAFOF#38 Apostle#21 COSOC#3 Tyger, Tyger Burning Bright (Remove rust to reply) 116 Giulietta 3.0l Sprint 1.7 156 TS 145 2.0 Cloverleaf 156 V6 2.5 S2 Triumph Sprint ST 1050: It's blue, see. www.cuore-sportivo.co.uk > If you use a personal bike for work, I would expect that you'd have to > negotiate that with the employer. Our work policy is simply claim the petrol car rate. |
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