Thread: Formula 1
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Old 7th Nov 2017, 10:19
  #6254 (permalink)  
Join Date: Nov 2015
Location: Farnham, Surrey
Posts: 1,284
I've seen one claim that has more detail - it is said that Lewis declared the aeroplane as a business asset, and has set up a separate company that owns/operates it and on that basis its purchase was VAT-exempt.

It is said that about 40% of its use is "personal" rather than "business", and for these trips he is personally invoiced (at the same operating costs as are declared fo the business use). On these invoices he pays VAT.

To me that sounds like a fairly normal arrangement for this kind of thing - is it common?

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