Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Using Van Registered in Partner's Name - Tax Treatment

  • 26-02-2010 11:52am
    #1
    CapedCrusader
    Registered Users, Registered Users 2 Posts: 215 ✭✭


    Hi folks,

    Just say I was operating a business as a sole trader and had my personal car registered in my own name.

    The business needed a van, but to avail of my partner's no-claims bonus, the van was registered in partner's name.

    I am registered for VAT, partner isn't.

    Could I claim VAT back for diesel used?

    What is the best way to handle this. Can I claim the costs of insurance etc if this is all in partner's name?

    Would partner have to set up a business, charge me for rental of the van etc, and then partner claim these expenses?

    What is the best way?

    Many thanks

    CC


Comments

  • #2
    cargo
    Registered Users, Registered Users 2 Posts: 1,222 ✭✭✭cargo


    CapedCrusader wrote: »
    Hi folks,

    Just say I was operating a business as a sole trader and had my personal car registered in my own name.

    The business needed a van, but to avail of my partner's no-claims bonus, the van was registered in partner's name.

    I am registered for VAT, partner isn't.

    Could I claim VAT back for diesel used?

    What is the best way to handle this. Can I claim the costs of insurance etc if this is all in partner's name?

    Would partner have to set up a business, charge me for rental of the van etc, and then partner claim these expenses?

    What is the best way?

    Many thanks

    CC

    Anyone have any info on this? Have a simillar situation also.


  • #3
    DoMyBooks
    Registered Users, Registered Users 2 Posts: 355 ✭✭DoMyBooks


    Take this advice with a pinch of salt, But I dont see any problem with claiming back the VAT on diesel for business use. As its business use regardless of who owns the van. But remember its only the business use diesel thats VATable.

    Regarding the insurance, Generally you need a business insurance policy to operate the van for business use. So my first concern would be is the van actually insured for your business use?

    If you have to pay extra to add on the business use certainly charge that to the business as an expense.

    Hope this helps


  • #4
    tombull82
    Registered Users, Registered Users 2 Posts: 910 ✭✭✭tombull82


    your partners commercial insurance will state "for use within the insurer's business only" and also. "not for use under for rent or hire". I doubt you will get hire use on 1 vehicle


Advertisement