Company Bike

Discussion in 'Lounge' started by zeepony, Dec 17, 2011.

  1. zeepony

    zeepony Active Member

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    So, i've asked my accountant about the option of getting a company bike (like a company car) and what tax implications it has etc. but he doesnt seem to know any definitive answers.

    I was wondering if anyone on here had any experience of using a company bike?

    I know for a company cr you get taxed quite a bit, but on average these executive cars are £30k plus, where a bike is £10k.

    Any ideas?
     
    #1 zeepony, Dec 17, 2011
  2. tandbiskits

    tandbiskits Active Member

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    Yes , i have , her name is debbie & she works in the office.. You obviously knew you would have some twat give you an answer like that! Good luck with finding out though.
     
    #2 tandbiskits, Dec 17, 2011
  3. zeepony

    zeepony Active Member

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    ^ lol - What kind of mileage do you get out of her? I suppose it depends how often you lube her...
     
    #3 zeepony, Dec 17, 2011
  4. tandbiskits

    tandbiskits Active Member

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    Lubed twice a week , over the filing cabinet.
     
    #4 tandbiskits, Dec 17, 2011
  5. Bikeracer1098

    Bikeracer1098 Active Member

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    Hi mate, hope your well!!

    With regards to company bike, it depends how your company is set up, whether it is sole trader, partnership or LTD company etc.

    There was a change in motorcycle in taxation around 2 years ago.

    Motorcycles are now treated as agricultural assests from a taxation point of view.

    Therefore for an employee of a LTD company your tax bill would be extremelly low.

    If you are a sole trader/partner you can claim back 40% of the value of the bike in the first year aginst your tax bill.

    i.e on a £12,000 blade you could claim back £4,800 in the first year, therefore after around 3 years the bike has been fully paid for etc etc.

    I'll call you to discuss

    Cheers

    Rich
     
    #5 Bikeracer1098, Dec 17, 2011
  6. arthurbikemad

    arthurbikemad A very helpful Gent

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    Company bike, gis a job mate, I can do dat..lol

    Hi Rich mate hope your well we should all meet up (when warmer) and have a drink or whatever.. :)
     
    #6 arthurbikemad, Dec 17, 2011
  7. Bikeracer1098

    Bikeracer1098 Active Member

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    Hi Arthur

    How are you mate? Hope your well!!!

    Will give you a call and hopefully catch up for a Christmas drink

    Speak to you soon

    Cheers

    Rich
     
    #7 Bikeracer1098, Dec 17, 2011
  8. zeepony

    zeepony Active Member

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    LTD company bro. Wow, so it sounds possible! So can i just buy one on the company credit card and thats it? Or is it one of those situations where you "can't" ride it for personal use? I'd need to commute on it and for it to be treated just like a company car. 20% VAT straight off the top is nice too! Wahoooooooooooooooooooooooooooooooooooooo...

    Hmm.... no what to get......

    Rich sorry i missed your call earlier, i was out in the garage trying to remove 2 inch deep winter road jizz from the bike! Good to hear from you though mate! Call you tomoz.

    Arthur, the amount of time i've spent over there, you pretty much have a job! When are you gonna come and look at my sick puppies!?
     
    #8 zeepony, Dec 17, 2011

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