Board logo

Building under a company?
coozer - 23/5/15 at 11:41 PM

Is there any benefit for building a car, a scratch build, under a company?

Im currently LTD but not VAT regged. Nowt to do with cars, transport, logistics, trucks... Its handy for trade only places atm.

Any thoughts on this?

Just been looking at some eye candy, eye watering price rods n pistons and the vat deduction would make it more realistic..

Anyone done it on a real company? I know peeps have made up names for the manufacturer of their scratch builds but is there a saving to be made under a real company? Not looking for a tax scam, just some savings!!

Steve

ceebmoj - 24/5/15 at 02:50 AM

quote:
Originally posted by coozer
Not looking for a tax scam, just some savings!!


Not trying to be a pain in the arse but what is the difference? I know we can arrange our finances in a tax efficient manner.

JoelP - 24/5/15 at 06:47 AM

I considered diversifying my company so that I could buy new tools for work. You are on thin ice really. Possible though.

AntonUK - 24/5/15 at 08:59 AM

Weren't the bits a possible Buisness plan / opportunity. Deemed not worth it after the parts failed and were lost.

Cough cough

paulc - 24/5/15 at 09:47 AM

Probably going to make it difficult to claim its an amateur build come IVA.