Clean It Up

UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: 8weekly on March 22, 2015, 12:08:32 pm

Title: Van from sole trader to limited.
Post by: 8weekly on March 22, 2015, 12:08:32 pm

I do have an accountant now to ask and I'll be asking him next week but I'm just wondering what people did with their vans when they went limited in terms of ownership and paying for fuel/servicing etc?

Title: Re: Van from sole trader to limited.
Post by: Ian Lancaster on March 22, 2015, 02:14:59 pm

Quote from: 8weekly on March 22, 2015, 12:08:32 pm

I do have an accountant now to ask and I'll be asking him next week but I'm just wondering what people did with their vans when they went limited in terms of ownership and paying for fuel/servicing etc?

The van becomes part of the assets of the Ltd Company.  All expenses are paid by the company.  In practical terms, just keep all receipts exactly as you would as a sole trader and submit them to your accountant - he'll apportion the expenses in the most tax efficient way.