UK Taycan Insurance

[kevinod]

Are you all registering these cars as personal cars or company vehicles?

I found with compare the market it automatically put it down as being policyholder is owner and registered keeper and when changed on the independent sites it doubled most of the time

Sponsored

 

[Gogs]

Are you all registering these cars as personal cars or company vehicles?

I found with compare the market it automatically put it down as being policyholder is owner and registered keeper and when changed on the independent sites it doubled most of the time

I put it down as owned by the company, but i'm the registered keeper. I'm thinking of buying through my limited company to save on all the tax etc, have not fully made up my mind on that though. I like to keep toys out of the company. I bought a boat a few years ago and did that privately, could have claimed the vat back but decided not to.

 

[TAYC4N]

I have been told that for tax purposes the PCP should be in the company name, the invoice in the company name but the registered owner on the v5 can be me (company owner/director). I am planning to do this on Monday.

 

[kevinod]

Well worth a go!

 

[TAYC4N]

It surely makes insurance cheaper

 

[Gogs]

I have been told that for tax purposes the PCP should be in the company name, the invoice in the company name but the registered owner on the v5 can be me (company owner/director). I am planning to do this on Monday.

Have you been told how the capital expense works? Do you claim the invoice in full in year 1 or is it the pcp payments you claim each year?

 

[TAYC4N]

Have you been told how the capital expense works? Do you claim the invoice in full in year 1 or is it the pcp payments you claim each year?

Can be done either way your accountant feels fit. You can claim it all in year 1 or spread over the years of PCP. I have also been told that this info is incorrect by a friend. I guess every accountant has their own way of doing things! On a PCP the car is still basically "bought" by the company so full Capital WDA applies.

 

[Gogs]

Can be done either way your accountant feels fit. You can claim it all in year 1 or spread over the years of PCP. I have also been told that this info is incorrect by a friend. I guess every accountant has their own way of doing things! On a PCP the car is still basically "bought" by the company so full Capital WDA applies.

What about the balloon payment. I suppose you would pay the capital gain if you get more when you hand it back. That would be fair I guess.

 

[TAYC4N]

Not sure, don't intend to keep it that long

 

[Gogs]

Not sure, don't intend to keep it that long

I’d assume the gain when you sell would just be taxed through corp tax. I’m sure I could soff ref nd that though to avoid the gain tax!!

 

[Lfcdan]

I’d assume the gain when you sell would just be taxed through corp tax. I’m sure I could soff ref nd that though to avoid the gain tax!!

You get to full first year allowance on the price of the car and also tax allowance on the APR
When you sell the car, part ex or hand it back at the end of the pcp you need to pay the tax on the value
So only real benefit on first year allowance is cashflow

But what I would do is part ex the car under value and the dealer could discount the car your buying that way you pay less tax back.

 

[TAYC4N]

NFU Mutual came good - £760 for 4S with Performance Battery Plus. 44 years old 6 points on licence (coming off next month!)

 

[Gogs]

NFU Mutual came good - £760 for 4S with Performance Battery Plus. 44 years old 6 points on licence (coming off next month!)

Try Admiral mate. I got a good price.

 

[TAYC4N]

Admiral for me were £1300

 

[kevinod]

Admiral have been the best for me.

Changing my registered keeper to me rather than the company brought it down to £1000 and then adding my other half’s car on brought it down to £800. Very odd

Sponsored