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tony benett

Member Since: 10 May 2006
Location: near barf
Posts: 4

any accountants out there?

Hi d00ds.
Im from the Disco 3 forum.
It was suggested I post here as your alll accountants and everyone on D3 is in IT.
I am retiring at the end of may and will be starting a busines making vehicke graphics, general signs and clothing.
I am not offering my services here.
I am after some accounting advice, ie can I buy a new D3 through the busines and save money (VAT) legally, stuff like that.
Does anyone have any ideas please? what ho, where's the bling
T

Last edited by tony benett on Thu May 11 2006 7:25am. Edited 1 time in total

Wed May 10 2006 7:25pm

shmoogle

Member Since: 07 Sep 2005
Location: ... and for every sprinkle I find, I shall kill you!
Posts: 24350

Kam is an accountant and should be able to supply all the gory detail.

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Wed May 10 2006 7:27pm

kam100

Member Since: 28 Sep 2005
Location: In my office doing quotes!!
Posts: 4771

Well im just a payroll jockey but I have access to accountants, so i'll ask the question tommorow, may be worth PM'ing me just in case i get snowed under with New Posts or something!

Be glad to help..

Wed May 10 2006 8:24pm

Pelyma

Member Since: 29 Sep 2005
Location: Sussex
Posts: 1497

As a sole trader you can put the depriciation of the car against your tax, upto £2.5K, when you sell it the whole depreciation can be off set. A start up business is perhaps not likley to be VAT registered. If you are then leasing will probably be a better option as the VAT can be reclaimed on the lease payment, but not on a purchase as its not a commercial vehicle.

I'm not an accountant though, but I am a sole trader!

Thu May 11 2006 3:25pm

Supertrotter

Member Since: 10 Mar 2006
Location: Brrrr.... guess where :o(
Posts: 9905

Pelyma wrote:
As a sole trader you can put the depriciation of the car against your tax, upto £2.5K, when you sell it the whole depreciation can be off set. A start up business is perhaps not likley to be VAT registered. If you are then leasing will probably be a better option as the VAT can be reclaimed on the lease payment, but not on a purchase as its not a commercial vehicle.

I'm not an accountant though, but I am a sole trader!

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Thu May 11 2006 3:34pm

Pelyma

Member Since: 29 Sep 2005
Location: Sussex
Posts: 1497

Nah mate but I do a good line in investments

Last edited by Pelyma on Thu May 11 2006 4:10pm. Edited 1 time in total

Thu May 11 2006 4:07pm

Supertrotter

Member Since: 10 Mar 2006
Location: Brrrr.... guess where :o(
Posts: 9905

Pelyma wrote:
Nah mate but I good line in investments

Me too! Hence semi-retirement at 32!!!

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(

Thu May 11 2006 4:08pm

Chappylad

Member Since: 03 Dec 2005
Location: Bucks
Posts: 123

Supertrotter wrote:
Pelyma wrote:
Nah mate but I good line in investments

Me too! Hence semi-retirement at 32!!!

I retired at 36 after 15 years with Volkswagen Head Office. Became bored, after 2 months, with good redundancy package and owns two properties, so I decided to set up my own luxury car hire business and 2 years later, it is now successful.

Thu May 11 2006 7:09pm

Supertrotter

Member Since: 10 Mar 2006
Location: Brrrr.... guess where :o(
Posts: 9905

Good man Chappylad!

Like I said, I'm semi-retiring as I would go out of my mind doing nothing but spending the day on here.......Oh that's what I do now

I'll be co-running a private investment fund which is rocketing at the moment and building up our property empire......all of which is in glorious sunshine.

RESULT! Runner up - 2009 Best Avatar Award
Joint runner up - 2009 Outstanding Contribution Award
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Runner Up - 2008 Comedian Of The Year Award
Runner Up - 2008’s Funniest Incident

06 RRS TDV6 HSE, Java/Ebony, PTI, Running Boards, Privacy, S/C Grille/Vents, Stormers, Tasmods - GONE - (

Thu May 11 2006 7:12pm

Tim in Scotland

Member Since: 30 May 2005
Location: Driving along in my automobile
Posts: 17476

2013 Range Rover Sport SDV6 HSE Stornoway Grey

Supertrotter wrote:
I'll be co-running a private investment fund which is rocketing at the moment and building up our property empire......all of which is in glorious sunshine. RESULT!

................ and where might that be SuperT, I don't think you have mentioned this before have you? 2020 Pangea Green 1st Edition D240 New Defender 110 is here and loving it
2018 Melting Silver Mini Countryman PHEV - soon to be replaced
2015MY Corris Grey SDv6 HSE Dynamic, the best car I have ever owned, totally reliable only a cou0le of rattles in 3 years, now no longer in my care
Also in my garage is a 1996 TDi300 Defender 90 County HT made into a fake CSW

Thu May 11 2006 7:39pm

TB

Member Since: 19 Feb 2006
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Tim

Stop encouraging him !!! Arctic Frost TDV6 SE. Aspen Leather, Cherry Wood, Privacy Glass, PTI, Tow Pack, Mudflaps, Tasmods, a new Fuelflap, a RRSport.co.uk umbrella in the boot & a RRSport.co.uk sticker on the rear glass.
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Thu May 11 2006 7:49pm

XXXAngelXXX

Member Since: 03 Mar 2006
Location: Krautland
Posts: 10894

QUIET Tim !
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Fri May 12 2006 7:07am

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Fri May 12 2006 7:22am

Supertrotter

Member Since: 10 Mar 2006
Location: Brrrr.... guess where :o(
Posts: 9905

Tim in Scotland wrote:
Supertrotter wrote:
I'll be co-running a private investment fund which is rocketing at the moment and building up our property empire......all of which is in glorious sunshine. RESULT!
................ and where might that be SuperT, I don't think you have mentioned this before have you?

Sorry boys. Didn't mean to keep you in the dark.

Let me explain it all to you. Every last detail.

Well........... Runner up - 2009 Best Avatar Award

Joint runner up - 2009 Outstanding Contribution Award

WINNER - 2008 ‘Best Thread’ Award – Beautiful Women Of The World

Runner Up - 2008 Comedian Of The Year Award

Runner Up - 2008’s Funniest Incident

06 RRS TDV6 HSE, Java/Ebony, PTI, Running Boards, Privacy, S/C Grille/Vents, Stormers, Tasmods - GONE -

(

Fri May 12 2006 8:40am

tony benett

Member Since: 10 May 2006
Location: near barf
Posts: 4

Pelyma wrote:
As a sole trader you can put the depriciation of the car against your tax, upto £2.5K, when you sell it the whole depreciation can be off set. A start up business is perhaps not likley to be VAT registered. If you are then leasing will probably be a better option as the VAT can be reclaimed on the lease payment, but not on a purchase as its not a commercial vehicle.

I'm not an accountant though, but I am a sole trader!

Thanks for the replies, I pm'd kam.
Palyma

One can be voluntarily registered for VAT still I take it?

So a D3 Commercial then

Unless they do a commercial spurt

or an L322 even

what ho, where's the bling
T

Fri May 12 2006 11:29am

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