Hi there!
I'm going to buy an Exige and I finally found THE one.
I'm living in Belgium and taxes are really expensive. I would have to pay £2250 (registration tax) plus £500 (ecological malus tax) just to put it on the road. After that, I'll have to pay £240 a year for the road taxe.
I'm planning to build a compagny just to host and register my car and a friend of mine's car.
I was wondering how to build this compagny and what would be the annual cost. I already had a look on this web site (http://www.businesslink.gov.uk/bdotg/ac ... 1073858805) but If you have advices to give me about that specific usefulness.
I hope my question is not too vague...
Thanks for your attention anyway!
Max
How to build a compagny in the UK?
Re: How to build a compagny in the UK?
Maxmaxouhouhou wrote:Hi there!
I'm going to buy an Exige and I finally found THE one.
I'm living in Belgium and taxes are really expensive. I would have to pay £2250 (registration tax) plus £500 (ecological malus tax) just to put it on the road. After that, I'll have to pay £240 a year for the road taxe.
I'm planning to build a compagny just to host and register my car and a friend of mine's car.
I was wondering how to build this compagny and what would be the annual cost. I already had a look on this web site (http://www.businesslink.gov.uk/bdotg/ac ... 1073858805) but If you have advices to give me about that specific usefulness.
I hope my question is not too vague...
Thanks for your attention anyway!
Max
I've used Jordan's frequently in the past... very simple to use, they'll even administer the company for you (for a fee!)
http://www.jordans.co.uk/companyformati ... ation.html
Caterham Roadsport 190
Tesla Model 3 LR RWD
Volvo XC60 - family and dug spec!
Tesla Model 3 LR RWD
Volvo XC60 - family and dug spec!
Re: How to build a compagny in the UK?
It is a false economy I suspect. The UK road tax is no cheaper and the red tape will soon trip you up ...
If you plan on keeping the car registered in the UK and the car is to be registered to a limited company then I believe the limited company will need to take out the insurance for the car. (UK insurance companies will now only insure cars registered to the policy holder I believe).
This means you'll have to find an insurer that is willing to insure two vehicles to a limited company with no actual business where the cars will be in Belgium at all times. I think they'll say no, or if they say yes, it will be very expensive.
If the cars are to remain registered in the UK then you must get them MOT'd once per year in order to get road tax. This will mean bringing the cars back to the UK as there is no way to do it in Belgium I believe.
You will soon have spent your 2,750 and you will keep spending each year until you give up and import the car to Belgium properly - at which point you'll still have to pay the 2,750 or whatever it is by then.
My advice is don't buy the car if 2,750 is too much to spend on importing it to Belgium!
Cheers,
Robin
If you plan on keeping the car registered in the UK and the car is to be registered to a limited company then I believe the limited company will need to take out the insurance for the car. (UK insurance companies will now only insure cars registered to the policy holder I believe).
This means you'll have to find an insurer that is willing to insure two vehicles to a limited company with no actual business where the cars will be in Belgium at all times. I think they'll say no, or if they say yes, it will be very expensive.
If the cars are to remain registered in the UK then you must get them MOT'd once per year in order to get road tax. This will mean bringing the cars back to the UK as there is no way to do it in Belgium I believe.
You will soon have spent your 2,750 and you will keep spending each year until you give up and import the car to Belgium properly - at which point you'll still have to pay the 2,750 or whatever it is by then.
My advice is don't buy the car if 2,750 is too much to spend on importing it to Belgium!
Cheers,
Robin
I is in your loomz nibblin ur wirez
#bemoretut
#bemoretut
Re: How to build a compagny in the UK?
N3 is a Belgian car.
tut
tut
Re: How to build a compagny in the UK?
Tut's Random Loosely-Connected Fact of The Day (TM)?
2010 Honda VFR1200F
1990 Honda VFR400 NC30
2000 Honda VTR1000 SP1
2000 Kawasaki ZX-7R
1990 Honda VFR400 NC30
2000 Honda VTR1000 SP1
2000 Kawasaki ZX-7R
Re: How to build a compagny in the UK?
Not to mention the requirement to submit annual returns to companies house & HMRC,... for which there is a small cost, and a bit of admin / or accountancy fees. I also doubt that HMRC would let a company operate in that manner...robin wrote:It is a false economy I suspect. The UK road tax is no cheaper and the red tape will soon trip you up ...
If you plan on keeping the car registered in the UK and the car is to be registered to a limited company then I believe the limited company will need to take out the insurance for the car. (UK insurance companies will now only insure cars registered to the policy holder I believe).
This means you'll have to find an insurer that is willing to insure two vehicles to a limited company with no actual business where the cars will be in Belgium at all times. I think they'll say no, or if they say yes, it will be very expensive.
If the cars are to remain registered in the UK then you must get them MOT'd once per year in order to get road tax. This will mean bringing the cars back to the UK as there is no way to do it in Belgium I believe.
You will soon have spent your 2,750 and you will keep spending each year until you give up and import the car to Belgium properly - at which point you'll still have to pay the 2,750 or whatever it is by then.
My advice is don't buy the car if 2,750 is too much to spend on importing it to Belgium!
Cheers,
Robin
Re: How to build a compagny in the UK?
Should say; HMRC = Her Majesty's Revenue & Customs (the tax office) 