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Sole Trader: Company car rental.

  • 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.

  • 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.

  • 1 post
  • # 118942

Liiterissä on joitakin valkoisia Purjebägit-reppuja, jollaisen voi lainata tarvikelainan yhteydessä. Repun avulla tavaraa saa kuljetettua helposti myös pyörällä ajaen. Huom! Tekstiilipesuri vuokraus Helsinki ei mahdu reppuun, mutta reppu on kätevä laitteen irroitettaville osille.

Edited at 04 Aug 2020 07:04 AM GMT

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