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Old 14th Sep 2010, 21:45
  #5 (permalink)  
206 jock
 
Join Date: Feb 2004
Location: South of UK
Posts: 522
Received 22 Likes on 17 Posts
John is correct, best way is for your company to charge you a market rate for your own private use of the machine. A lot better than a 20% per annum tax charge, designed originally (apparently) for guys who used suits provided by their company. Now extended to any asset used except those specifically excluded, like cars.

I decided to own the aircraft personally and charge my company a commercial rate for hiring the aircraft from me. But it's a utilisation/risk call of course.

Both methods should prove acceptable to the taxman, but expect him (or in my case, her) to issue veiled threats at every opportunity.

Be careful if you decide to 'risk it'. I have heard of green-eyed officers sitting outside helo owners properties and logging ins and outs, then cross checking against diaries.
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