Member Since: 15 Mar 2017
Location: East Kent
Posts: 175
BIK position regarding Hardtops?
Aside from the reclaimable VAT are you Hardtop business owners benefiting from the £3,600 flat rate for personal use? My accountant is being a bit non committal and I don't want to place the order not knowing if I'm going to get clobbered into the private car category.
24th Jan 2023 7:50pm
camelman
Member Since: 27 Feb 2013
Location: Peak District
Posts: 3373
As long as its a genuine hardtop (without after market rear seats) you are ok to run it for personal use and be taxed on the £3960 (from April) BIK. Your business can also pay for all of your diesel (business and personal) if you declare the Van fuel benefit BIK of £757 (again from Apr 23).
Obviously as its a van, you are subject to the slower van speed limits on A roads and Dual carriageways.
If you have bought it between Apr 21 and Mar 2023, you can also claim super deduction tax loss of 130% of the vehicle value (pre vat) against your company profits.
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24th Jan 2023 8:08pm
