a van becomes a van wants the payload is over 1000kgs, that's a T32 Kombi, the other t28/t30 are cars because payload is below the magic 1000kgs payload
Correct that was why I bought a t32 kombia van becomes a van wants the payload is over 1000kgs, that's a T32 Kombi, the other t28/t30 are cars because payload is below the magic 1000kgs payload
So if you have a kombi with a payload >1000kg; and reclaim VAT; and off-set if from income/corporate tax:
But then use it at the weekend for leisure use, does that by definition become a problem with HMRC; The van becomes a part non-commercial vehicle by use?
Using it for leisure is when 'Benefits-in-Kind' kicks in so yes, that's when HMRC would be interested.
For a van, it's only around £60/month - so not really an issue - for a car it's significantly more.
If it's business use only, it makes no difference what HMRC want to classify it as.
The BIK covers the income/corporate tax v allowable business expense; But does it cover the VAT part of this issue?Using it for leisure is when 'Benefits-in-Kind' kicks in so yes, that's when HMRC would be interested.
For a van, it's only around £60/month - so not really an issue - for a car it's significantly more.
If it's business use only, it makes no difference what HMRC want to classify it as.
The BIK covers the income/corporate tax v allowable business expense; But does it cover the VAT part of this issue?
Does that mean if you have reclaimed VAT on a Kombi, there is no problem (VAT liability wise) using it for leisure at the weekends/holidays etc?Vat is completely separate. Totally different set of rules and pretty much black and white.
Vat liability ? Vat has nothing to do with the benefit in kind rates you pay to legally use your business vehicle for private use.Does that mean if you have reclaimed VAT on a Kombi, there is no problem (VAT liability wise) using it for leisure at the weekends/holidays etc?