I'm keen to know how I can buy a bike VAT (TVA where I come from) free? I have a TVA registered business building ski chalets and buy all my construction equipment, tooling, vehicules etc TVA free, but bikes? Am I missing a trick here?
I know a bloke who bought a Multistrada and used it to go to quite jobs when it was sunny. Also an 1199 Pani as a track day bike with the company logo on watch the benefit in kind though on your personal tax: talk to your accountant.
You can only reclaim VAT on bikes if its used 100% for business use. No private use at all and that includes going backwards and forwards to work. https://www.gov.uk/reclaim-vat/cars
You can still claim if the bike is stored at one place-of-work and used to travel to one or more other places-of-work. If one of your places of work happens also to be your home ... maybe you can claim. Maybe there's a specific exclusion though?
Motorbikes are classed as plant so the complete cost can go through the business. To reclaim the tax it usually needs to be a new bike but you can still cover the costs of buying and save corporation tax if it's a second hand bike.
It depends on the company activity as well...you cannot claim all value from corporation tax. Also to consider if the company goes into administration the bike will be taken away.
If your company is vat registered you must charge vat on the sale if you reclaimed it on purchase. Are your v5s in the company name? If not it's just adding to potential problems if the taxman finds out. He's probably searching through this thread as we speak.
Also just because a bike might be considered as plant it doesn't necessarily follow that you can reclaim the VAT or claim as a tax expense. Any element of private use at all means you cannot claim it back.
Who's talking about selling them If it gets sold it's to me... V5 is not proof of ownership either....
You know more about tax than you do about the EU institution I see, more than my Chartered Accountant too
I'll check with my ac. We'll probably have slightly differing rules to most of you UK guys but if he says its possible I'll certainly give it a whirl!
