Tax boon for firms using motorbikes
12:09pm Friday 2nd October 2009 in Business News
FOR those businessmen having a mid-life crisis who bought a Harley Davidson but can justify its use in their company, thousands of pounds in tax relief could be theirs.
Businesses who use a motorbike can now claim more in tax relief.
Changes in the way motorcycles are regarded for tax purposes means that companies who use them for their business can claim up to 100 per cent tax relief.
John Shaw at Bentleys accountants in Bolton, said: “Motorcycles are no longer treated for tax purposes like cars but as plant and equipment. This has a significant effect on the amount of tax relief you can claim when you buy a motorcycle for use in your business.
“Whatever their CO2 emission, 100 per cent of the cost is potentially available as a tax write off in the year of purchase.”
