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lightning Member Since: 23 Apr 2009 Location: High Peak, Derbyshire Posts: 2776 |
So, l've spoken with accountant and it's not straightforward.
l could do it, but it would cost me. lf l sell the new Defender Commercial now (it's worth around £46,000) l will get a tax bill of around £10,000. As it's owned by my Limited Company and l claimed tax back on the purchase. So l would be left with around £36,000. There's £5,000 owing on the new one leaving me with £31,000 The 110 is £40,000 which means l would have to find £9,000 to buy the old one. Not immediately as the tax bill wouldn't come until a year next December. But Eventually l would have a £10,000 tax bill to pay. Also the 110 isn't a Commercial Vehicle so l couldn't put it through my Limited Company like the new one. All l could claim is something like 45p per mile business use. If l want another Classic Defender l would most likely be better off saving up and buying a TD5 or TDi which would be a lot cheaper, as a second vehicle and keeping the new one. Although l would love the 4,000 mile TDCi 110 l also have to think that if l start using it for my business doing 10,000 miles per year l am going to knock £10-15,000 off the value within five years. l think that's a Land Rover to stash in a barn. l just wish l had a barn lol |
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18th May 2024 9:03pm |
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