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Tax situation for a limousine business

Discussion in 'Accounting and Legal' started by golfer4588, Mar 24, 2015.

  1. golfer4588

    golfer4588 New Member

    Hi, I am hoping someone can give me some advice regarding a new limousine business that I’m looking to start.

    The main problem that I’m having is to do with capital allowances, annual investment allowance and writing down allowances.

    The car I am looking to buy is a used BMW 730Ld which I have been advised by BMW is classed as a limousine because it has a long wheel base.

    I am aware that regular cars do not qualify for annual investment allowance but I am unsure whether a limousine does because they are not commonly used as a private vehicle and unsuitable for such use.

    The limo will do zero private mileage and will only be used for passengers.

    I found this link which has confused me even more (mainly because I’m clueless when it comes to tax)http://www.accountingweb.co.uk/anyanswers/hearse-and-limousine-capital-allowances/514268

    Any help would be very much appreciated.
     
  2. eventtom

    eventtom New Member

    I do not know the law but it sounds like that it is possible ;)
     

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