tax deductible Morbike and scooter … if you're self employed

[Milly]

This may be old news but many people are still not aware that from the last budget motorcycles are no longer treated for tax purposes like cars but as plant and equipment. This has a significant effect on the amount of tax relief you can claim when you buy a motorcycle for use in your business.

 

The rules allow bikes to be treated as plant so that, in most cases, business owners will be able to claim the whole cost against tax at their top tax rate. So you can enjoy the freedom of the open road and know that the tax man is subsidising you.

 

The change in the law means those who pay 40% tax could save £2,728 on the cost of a new £6,821 Honda CBF1000.

[janey]

No, I wasn't aware of that. Thanks

 

Up until now, I've been treating my MOT, servicing, clothing etc expenses as tax deductible. I'll certainly look into this more.

[Milly]

Your welcome this is the toy I am after next as my last bike was stolen two days before moving to France. I like your bike collection ;-) CB1000R | Naked | Motorcycles | Honda (UK)

[janey]

Your welcome this is the toy I am after next as my last bike was stolen two days before moving to France. I like your bike collection ;-) CB1000R | Naked | Motorcycles | Honda (UK)

 

That just adds to the confirmation that you were doing the right thing to get out of this country

 

Now that could be a whole lot of fun on the slower back roads. Of course, when you get your hands on one, it will be in your company livery as it will be solely for work use, cough cough...

[delabodge]

I do most of my quotes on bike,,sometimes the customer thinks Im a courier delivering the quote,,in a roudabout way I am,,,,cuts hours off my week,,,,

[Milly]

This was my stolen baby ;-(

Edited August 12, 2011 by Milly