Hi d00ds.
Im from the Disco 3 forum.
It was suggested I post here as your alll accountants and everyone on D3 is in IT.
I am retiring at the end of may and will be starting a busines making vehicke graphics, general signs and clothing.
I am not offering my services here.
I am after some accounting advice, ie can I buy a new D3 through the busines and save money (VAT) legally, stuff like that.
Does anyone have any ideas please? what ho, where's the bling
T

Last edited by tony benett on Thu May 11 2006 6:25am. Edited 1 time in total

Kam is an accountant and should be able to supply all the gory detail. 

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Well im just a payroll jockey but I have access to accountants, so i'll ask the question tommorow, may be worth PM'ing me just in case i get snowed under with New Posts or something!

Be glad to help..

As a sole trader you can put the depriciation of the car against your tax, upto £2.5K, when you sell it the whole depreciation can be off set. A start up business is perhaps not likley to be VAT registered. If you are then leasing will probably be a better option as the VAT can be reclaimed on the lease payment, but not on a purchase as its not a commercial vehicle.

I'm not an accountant though, but I am a sole trader!

Pelyma wrote:

As a sole trader you can put the depriciation of the car against your tax, upto £2.5K, when you sell it the whole depreciation can be off set. A start up business is perhaps not likley to be VAT registered. If you are then leasing will probably be a better option as the VAT can be reclaimed on the lease payment, but not on a purchase as its not a commercial vehicle.

I'm not an accountant though, but I am a sole trader!

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Nah mate but I do a good line in investments

Last edited by Pelyma on Thu May 11 2006 3:10pm. Edited 1 time in total

Pelyma wrote:

Nah mate but I good line in investments

Me too! Hence semi-retirement at 32!!!  Runner up - 2009 Best Avatar Award
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Supertrotter wrote:

Pelyma wrote:

Nah mate but I good line in investments

Me too! Hence semi-retirement at 32!!!

I retired at 36 after 15 years with Volkswagen Head Office. Became bored, after 2 months, with good redundancy package and owns two properties, so I decided to set up my own luxury car hire business and 2 years later, it is now successful.

Good man Chappylad!

Like I said, I'm semi-retiring as I would go out of my mind doing nothing but spending the day on here.......Oh that's what I do now

I'll be co-running a private investment fund which is rocketing at the moment and building up our property empire......all of which is in glorious sunshine.

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Supertrotter wrote:

I'll be co-running a private investment fund which is rocketing at the moment and building up our property empire......all of which is in glorious sunshine. RESULT!

Tim

Stop encouraging him !!!  Arctic Frost TDV6 SE. Aspen Leather, Cherry Wood, Privacy Glass, PTI, Tow Pack, Mudflaps, Tasmods, a new Fuelflap, a RRSport.co.uk umbrella in the boot & a RRSport.co.uk sticker on the rear glass.
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Tim in Scotland wrote:

Supertrotter wrote:

I'll be co-running a private investment fund which is rocketing at the moment and building up our property empire......all of which is in glorious sunshine. RESULT!

................ and where might that be SuperT, I don't think you have mentioned this before have you?

Sorry boys. Didn't mean to keep you in the dark.

Let me explain it all to you. Every last detail.

Well........... Runner up - 2009 Best Avatar Award
Joint runner up - 2009 Outstanding Contribution Award
WINNER - 2008 ‘Best Thread’ Award – Beautiful Women Of The World
Runner Up - 2008 Comedian Of The Year Award
Runner Up - 2008’s Funniest Incident

06 RRS TDV6 HSE, Java/Ebony, PTI, Running Boards, Privacy, S/C Grille/Vents, Stormers, Tasmods - GONE - (

Pelyma wrote:

As a sole trader you can put the depriciation of the car against your tax, upto £2.5K, when you sell it the whole depreciation can be off set. A start up business is perhaps not likley to be VAT registered. If you are then leasing will probably be a better option as the VAT can be reclaimed on the lease payment, but not on a purchase as its not a commercial vehicle.

I'm not an accountant though, but I am a sole trader!

Thanks for the replies, I pm'd kam.
Palyma

One can be voluntarily registered for VAT still I take it?


So a D3 Commercial then
Unless they do a commercial spurt or an L322 even  what ho, where's the bling
T