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Old 28th Oct 2008, 23:05
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Whirlygig

Hovering AND talking
 
Join Date: Feb 2003
Location: Propping up bars in the Lands of D H Lawrence and Bishop Bonner
Age: 59
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As I said!!!! G-Reg, private use, VAT.

Rich or not, I know the rules. Beware the ltd company route, there can be P11D implications. Beware the foreign reg route if you want to hire the aircraft out. Beware the business use route etc etc.

Be very careful how you actually want to use the machine. It's alll very well to have a pop at accountants but if you don't specify the reality, then they cannot give best advice.

And be very careful of taking advice from unqualified people on a forum. For example, tax at 30%? eh? Private use of a company asset is valued at 20% of asset value upon which you pay tax at your marginal rate (i.e. basic rate or 40%).

Cheers

Whirls
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