nickAKA
Über Member
- Location
- Manchester
Post-April I'll no longer be eligible for any C2W schemes at work as I'll be classed as a partner but on the plus side I'll have more say on the financial side, so I was contemplating buying my next bike through the books & claiming the VAT back. Has anyone ever done this or does anybody understand "the rules" on how to do it without bending any tax rules and potentally upsetting HMRC?
Current thinking - I've recently set up a cycling club and the company is one of the sponsors, which means sponsored kit paid for with "advertising fees"; If we were to buy a bike "for the club" it could be purchased by the club, funded through sponsorship fees, OR could it simply be purchased by the company for the club and claimed as a company asset?
I'm not looking to defraud the tax man, I'm just looking for a way to buy via the company and hopefully save some money as I would on C2W...
Current thinking - I've recently set up a cycling club and the company is one of the sponsors, which means sponsored kit paid for with "advertising fees"; If we were to buy a bike "for the club" it could be purchased by the club, funded through sponsorship fees, OR could it simply be purchased by the company for the club and claimed as a company asset?
I'm not looking to defraud the tax man, I'm just looking for a way to buy via the company and hopefully save some money as I would on C2W...