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Sole Trader: Company car rental.

  • Student
  • 3 posts
  • # 118739

Hi,

A Sole Trader has a diesel work van, and claims diesel through the business. He is looking to purchase a petrol car. Can he rent the car to his Company, and can he claim petrol receipts.

Any advise would be much appreciated,

Many thanks,

Tod.

  • 9 posts
  • # 118740

Hi Tod

If he is a sole trader, then the company is not a separate legal entity as it would be if he were the director of a limited company.

He could claim capital allowances and other revenue expenses (tax aportioned) on any vehicle relating to business use, but he cannot rent a car to essentially himself.

  • Student
  • 3 posts
  • # 118741

DannyF said:

Hi Tod

If he is a sole trader, then the company is not a separate legal entity as it would be if he were the director of a limited company.

He could claim capital allowances and other revenue expenses (tax aportioned) on any vehicle relating to business use, but he cannot rent a car to essentially himself.


 Thank you so much DannyF. Your advice is very much appreciated.

Tod.

  • 2 posts
  • # 118914

 

 Thank you so much for sharing this important information. It is very useful for me to know, especially the various legal nuances that apply to the company with which I do business. After your words, I am much more relaxed, because for example the company https://writix.co.uk/coursework-help-uk, which helps me with my studies, and more specifically now helps me write my term paper, has a very good reputation among other users. I am sure that these are not scammers and everything will be fine.

 






Edited at 31 Jul 2020 12:30 PM GMT

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