Remember the bike idea?

[imago]

Well having done the sums, and mulled it over for a while, I've gone for it.

Class 1 business use insurance for the year £80:00 (benefit of being an old git!), years tax £70:00, 50+ to the gallon and no sitting in traffic. So it's a no-brainer really when you compare running around in the van to do quotes or testing. Diesel is eyewateringly expensive, and because of the stuff I need to have in the van, and the size of it I get about 27 - 30 mpg. That stuff only gets used on jobs so it's being hauled around pointlessly when quoting or waving the Fluke at circuits. Round town (in Birmingham traffic) a bike will be a godsend as it will save me 30 minutes to an hour on some runs in the evenings.

I managed to get myself a Suzuki 1100F (Powerscreen) for £820 add another couple of hundred for sign writing and I'm on the road flying the company flag.

 

[Spudnik]

Excellent idea!!!

And all tax deductable

 

[High Tower]

Ill look out for you around brum!

 

[mogga]

I suggested getting one to my gaffer for the same reasons MPG time ect ect specialy for WICK fire alarm test 12hr driving to push to call points in a full loaded van @ 50mph for most of the travel from perth AND the ability to overtake 40mph artics Very hard to do in a van on the A9

 

[trev]

I'm guessing that you've ran it past your accountant and he/she said to go for it too?
(the idea that is, not the bike because that would just be showing off hehe)

 

[timo1]

I love the idea but can it really be deducted against tax? And if we can deduct it, is it the whole price of the bike? sorry if its a bit of dumb question, if I can deduct it then I will soon be joining you (got my practical test next month )

 

[imago]

The response from my accountant when I asked him is quoted below. He is very good, and knows his stuff with regard to HMRC.

"There is no reason why you cannot claim the cost of running a motorbike but it will be for you to retain sufficient records to prove that it is used for business. If there is any element of private use again you will need to keep records of this.

Obviously it is all about credibility; if the bike is a very expensive superbike, the inspector will take a lot of convincing; if it is a workhorse type machine, then it should not be a problem. If you are not able to convince the inspector, then he will seek to charge a benefit in kind based on the value of the bike when new. Therefore it is critical to keep adequate records."