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mrandmrsh

Member Since: 31 May 2010
Location: Huddersfield
Posts: 692

2015 Defender 110 Puma 2.2 USW Santorini Black

pom wrote:
My bean counter told me that flat rate scheme allways is worse than doing proper vat.

Pom

I think that depends on your type of business. Mine is all professional services so expenses are low (i.e. no raw materials).

For a quarter I worked out flat rate vs normal and flat rate was definitely beneficial for me.

C

27th Jan 2011 1:41pm

BigRuss

Member Since: 15 May 2010
Location: Norfolk
Posts: 2785

2010 Defender 110 Puma 2.4 USW Santorini Black

Well I to am flat rate vat and have been advised against it for many reasons.

The only words of fear I must say is think IR35!!!!!!!

Russell
2011MY 110 XS USW Black

27th Jan 2011 1:42pm

pom

Member Since: 01 Jun 2010
Location: Worcester
Posts: 1343

yup IR35

As long as YOU decide your hours and place of work you should be ok, if you dont then your going to be a PAYE slave.

Pom

27th Jan 2011 1:55pm

BigRuss

Member Since: 15 May 2010
Location: Norfolk
Posts: 2785

Just ask yourself if you feel confident completing an IR35 assessment with a company car?

Do you own another car so you can prove you don't drive the company vehicle outside of working hours?

With regards to add-ons, if you see a need for it the tax man cannot argue about stand you can then claim the tax back even if on the flat rate scheme. Russell
2011MY 110 XS USW Black

27th Jan 2011 2:01pm

Napoleon

Member Since: 27 Jan 2011
Location: Fringe Dartmoor
Posts: 8

1997 Defender 110 300 Tdi CSW Epsom Green

Wow - Thanks !!

Cheers guys comprehensive advice indeed. Sorry - looking at 110 utility station wagons. Work from home - just me and the misses on the books. Usual Ltd stuff. Love the idea of getting big "extras" through the company !! Will go look at the tax discs and if not PLG will have to look at ways of getting a newer one. I love the tdi but its getting a bit long in the tooth now for work. Kids love the "landie experience" so its just a question of when and, in these times, how!!

Cheers again. Will post later with update but usually takes me a while to decide these things.

Napoleon "What could possibly go wrong?"

27th Jan 2011 8:59pm

pom

Member Since: 01 Jun 2010
Location: Worcester
Posts: 1343

remember you can also claim 100% of the van cost against corp tax as well.

Pom

27th Jan 2011 9:15pm

TJ101

Member Since: 30 May 2007
Location: Taunton Somerset
Posts: 3748

2015 Defender 110 Puma 2.2 XS CSW Montalcino Red

Re: 110 Utility- Self employed VAT registered, Car tax and V

Napoleon wrote:
Hi all,

Can anyone give me definative answers. My local dealer has 2 nice 110 utilities in with about 40k on clock, both 2007 models - just what I am looking for. Am I right in thinking that :

1) I can claim the VAT back (my ltd company is VAT registered).
2) Even if bought on finance the VAT is reclaimable in one go.
3) It is classed as a commercial and therefore the benefit in kind to me will be just £600 p.a. as a cmpany car.
4) Is the vehicle - 2007 reg - taxed as a car c.£400 p.a. or a van c. £160?

Napoloeon

I must be missing something here

But

Quote:
1) I can claim the VAT back (my ltd company is VAT registered).

Yes,,IF it a Vat qualifying vehicle,, and not a margin car,, EG if the first owner was not vat reg, and did not claim and pay it, there will be no vat you can claim Ask the dealer

Quote:
2) Even if bought on finance the VAT is reclaimable in one go.

If a "normal" finance agreement ie good old HP, for business use, you pay a deposit, and any VAT element (if thier is one) , you can claim it back

Quote:
4) Is the vehicle - 2007 reg - taxed as a car c.£400 p.a. or a van c. £160?

If its a 2007 110 Station wagon with utility pack,, all puma 110 were full VED rate until the 2011 model year, so full price road tax, aprox £450 per year California F1, 75th 110 "Kermit", 50th Ann V8, 90 V8 Hybrid, 55 Series 1

Main Brian James Trailer Dealer for South West UK

27th Jan 2011 10:52pm

landyman1

Member Since: 11 Jul 2009
Location: Pembrokeshire,South Wales
Posts: 57

2009 Defender 110 Puma 2.4 USW Stornoway Grey

FOR A UTILITY 110 STATION WAGON TO BE N1 COMMERCIAL REGISTERED AND SO £200 TAX NEEDS TO BE REGISTERED FROM ABOUT JUNE 09 ONWARDS. DEPENDS ON DATE OFF PRODUCTION LINE. THE ONLY STATION WAGON VERSION CLASSED AS COMMERCIAL BEFORE 2011.
I TEST DROVE AN APRIL 09 VERSION WITH A £400 TAX DISC ON IT , BUT PURCHASED NEW SEPT 09 AT £200 TAX.
SO 07 MODEL NO GO.

YES CAN CLAIM FULL VAT ON PURCHASE BUT SUPPOSED TO DISALLOW A PERCENTAGE FOR PRIVATE USE. SAME WITH LATER ADDITIONS TO VEHICLE. BUT THEN I DO NORMAL QUARTERLY VAT RETURNS BASED ON ACTUAL INCOME/ EXPENDITURE.
HOPE THAT HELPS

1981 series 3 swb gone
1986 v8 110 station wagon current
2009 puma 110 xs utility station wagon latest addition

27th Jan 2011 11:44pm

Napoleon

Member Since: 27 Jan 2011
Location: Fringe Dartmoor
Posts: 8

Thanks for all that guys. Went and looked at both yes taxed as cars.

Back to drawing board.

Comment though - the finish on these two was bad

. Superficially fine but looking closer they were rusting around headlights, chassis bolts etc and there was bubbling on the screen hinges. 3 years old and 40k miles. I know they get used hard but twenty grand is a lot of dosh and I wonder what they'd look like in another three years?? Ok if you can change it every 3 years and hand it on to someone else but as a long term purchase ........

I see what the other posts mean about taking it apart and proofing it! "What could possibly go wrong?"

29th Jan 2011 12:10pm

TJ101

Member Since: 30 May 2007
Location: Taunton Somerset
Posts: 3748

Napoleon wrote:
Superficially fine but looking closer they were rusting around headlights, chassis bolts etc and there was bubbling on the screen hinges. 3 years old and 40k miles.

Nothing new there then,, think most are like that,, and some not even half that age / miles !!! California F1, 75th 110 "Kermit", 50th Ann V8, 90 V8 Hybrid, 55 Series 1

Main Brian James Trailer Dealer for South West UK

29th Jan 2011 8:41pm

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