It would of course be possible to offset against the business but in doing so it would incur bik as a "company" car. Better to charge the business for the use of the private car which has no negative tax implications if you stick to the formula of 40p a mile for the first ten thousand business miles pa and 25p a mile thereafter in any tax year. If you are VAT registered Rattle you can also charge the VAT on proportionate maintenance costs to the business.
Edit the VAT bit, just saw your post above.
Last edited by: Humph D'bout on Mon 15 Mar 10 at 21:46
|