MK5 Golf GTI

All Things Mk5 => Mk5 General Area => Topic started by: Manney on January 12, 2014, 09:54:29 am

Title: Mk5 gti to Mk7 R contract hire deal
Post by: Manney on January 12, 2014, 09:54:29 am

Thinking about trading my mk5 gti for a mk6 tsi r.

Then I saw this:

http://www.bluechillicars.com/business-contract-hire-cars/volkswagen/golf-hatchback/golf-hatchback-20-tsi-r-5dr-7354205

Brand new mk7 tsi r!!  Put it through my business, can claim half the vat back and fully deductible against tax.

This would workout to cost about £4000 per year after claiming half the vat back (I use my car for business use).  My mk5 gti has cost me £2000 per year in depreciation and £1000 in tax and maintenance. 

Thoughts please

Title: Re: Mk5 gti to Mk7 R contract hire deal
Post by: xjay1337 on January 12, 2014, 11:06:05 am

10k annual mileage probably not good if you use your car for business...

Title: Re: Mk5 gti to Mk7 R contract hire deal
Post by: Scottymon on January 12, 2014, 11:08:58 am

Oh wow, wish I hadn't seen that.

Title: Re: Mk5 gti to Mk7 R contract hire deal
Post by: Scottymon on January 12, 2014, 11:23:36 am

What is it on Personal Contract?  What's the BIK Tax on these for Business Users...

Title: Re: Mk5 gti to Mk7 R contract hire deal
Post by: WolverineMAc on January 12, 2014, 11:31:50 am

What about the benefit in kind for tax purposes

Title: Re: Mk5 gti to Mk7 R contract hire deal
Post by: Scottymon on January 12, 2014, 11:42:49 am

Quote from: WolverineMAc on January 12, 2014, 11:31:50 am

What about the benefit in kind for tax purposes

Between £120 and £130 a month over the term.
http://www.lexautolease.co.uk/content/driver/taxcalc.aspx

Title: Re: Mk5 gti to Mk7 R contract hire deal
Post by: Manney on January 12, 2014, 11:55:48 am

Quote from: WolverineMAc on January 12, 2014, 11:31:50 am

What about the benefit in kind for tax purposes

Hmmm just had a read around the subject.  Might just stick to plan A, get a Mk6 R.

Title: Re: Mk5 gti to Mk7 R contract hire deal
Post by: Scottymon on January 12, 2014, 11:56:40 am

http://www.contracthireandleasing.com/car-leasing-companies/independent-brokers/vehicles-for-business/volkswagen/golf/24265232/

Works out around £5k per year.