car through business

Discussion in 'Scotland' started by shil, Jun 24, 2013.

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  1. shil

    shil UKBF Newcomer Free Member

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    Hi I have a hair & beauty salon & my own car is about to give up the ghost can i get a new one through the business
     
    Posted: Jun 24, 2013 By: shil Member since: Apr 21, 2011
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  2. Scalloway

    Scalloway UKBF Legend Free Member

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    Re you a sole trader or do you operate through a limited company?
     
    Posted: Jun 24, 2013 By: Scalloway Member since: Jun 6, 2010
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  3. shil

    shil UKBF Newcomer Free Member

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    Im a sole trader
     
    Posted: Jun 24, 2013 By: shil Member since: Apr 21, 2011
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  4. Scalloway

    Scalloway UKBF Legend Free Member

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    In that case you can get it through the business. Any private use will still need to be met by yourself. Normally this would be done by reducing the amount of the car running costs and capital allowance put against your taxable profit.
     
    Posted: Jun 24, 2013 By: Scalloway Member since: Jun 6, 2010
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  5. shil

    shil UKBF Newcomer Free Member

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    Thanks most of the time the car is used for salon things anyway i did ask my own account today but he said no & to take money out the salon account as personal drawings towards a new one but would that not then make my earrings alot more
     
    Posted: Jun 24, 2013 By: shil Member since: Apr 21, 2011
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  6. Scalloway

    Scalloway UKBF Legend Free Member

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    If your turnover is less than £79,000 per annum you are entitled to get 45p per business mile charged to your accounts. If it is more I can see no reason for not putting the business proportion of the car's use through the business.
     
    Posted: Jun 24, 2013 By: Scalloway Member since: Jun 6, 2010
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