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26 May 2015
Corporate driving; Fit for VAT; Confusingly co-owned; Company loans
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Corporate driving
Can capital allowances be claimed on a car purchased personally for company use?
I act for a client who trades as a driving instructor through his limited company. He has recently changed his car but the hire purchase agreement is in his personal name.
My query is whether I can treat this as being purchased on trust for the company. If that argument is supportable I believe that I can introduce the asset and the hire purchase liability on...
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