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Post Info TOPIC: Correct treatment of car loan purchased in wifes name
Leger


Master Book-keeper

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Correct treatment of car loan purchased in wifes name
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Client (Ltd)  has purchased a car (taxi) in his wife's name as he was unable to get it on business finance.  Wife is paid from the business account every month to cover the finance and I'm wondering the best way to deal with it tax efficiently, as I don't think I can put it into the books as a company vehicle (or can I?) Company is paying all bills (tax insurance, fuel etc) 

Wife is working so I cant offset anything against personal tax.

 

 

 



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Leger


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Posts: 3904
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Bump



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Leger


Master Book-keeper

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Posts: 3904
Date:
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Just to update, I ended up treating it on a mileage basis, following a recommendation on aweb. 



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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