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Go to Work - on Your (Motor) Bike!!

Manchester Accountants Blondies wish to draw the attention of you motor bike enthusiasts to the fact that it is possible to write off 100% tax if you use a motor bike in your business.


There was a major change in the approach of HMRC to motor bikes in late 2009.


Let Blondies Manchester Accountants summarise the position for you.

Motor cycles are now treated as “Plant and equipment” and not in the same bracket as motor cars.


You can therefore claim full tax relief on motor cycles, unlike cars which are still subject to the 10 or 20% annual tax write down- unless of course the CO2 emissions are below 110g/km !!

 

The CO2 emissions on motor cycles is totally irrelevant, whatever it is, thus your Manchester Accountants at Blondies have great pleasure in telling you that you can potentially write off 100% of its cost in Year One!! – Great news if you are a high rate tax payer.

Blondies Manchester accountants say that there are now excellent tax planning opportunities for businesses who can justify the use of motor cycles in their business operations.

For example, your friendly Manchester Accountants calculate that a 40% taxpayer would save £4000 off their tax bill if they wrote off the cost of a £10000 motor cycle in year one.

There are some ambiguities in the detail (is’nt there always !!!) but Blondies Manchester accountants would be happy to iron over the creases for you.

On a different note, we at Blondies Accountants Manchester are becoming increasingly aware of the lack of help for small companies from HMRC. The authorities are at the root of almost half of creditor petitions brought against small enterprises.

Between HMRC and the banks the total percentage is quite devastating, at a time when central government are continually flying the flag and banging on about banks and HMRC will be doing everything possible to help businesses Not fail. Blondies Manchester Accountants believe they are not getting the balance right between recovering their taxes and giving flexibility to small firms and the chance to grow out of their early cash flow troughs.

Contact your Manchester accountants Blondies if you want us to deal with HMRC and banks on your behalf on these matters.

The HMRC “Time TO Pay” helpline is still operational, but they are becoming continually less flexible with their agreements with SME’s on late tax payments.

Your Manchester accountants Blondies has seen a steadying toughening up by helpline staff when our clients have been contacting them. It is crucial to find the right balance between ensuring you tell them the actual position, but at the same accentuating the positives in your business operations in order to secure a manageable “Time To Pay” agreement for your business.

We at Blondies Manchester Accountants have much expertise in this field, so please do not hesitate to contact us if you want us to handle this delicate scenario for you. The latest figures show an increasingly high percentage of offers made by small businesses are been rejected. To date, Blondies Accountants in Manchester have almost a 100% success rate in securing manageable arrangements for their clients, and in some cases have actually saved the businesses from entering voluntary arrangements and administration.

It may be even more crucial for you to contact experts in this field such as your local Manchester Accountants here at Blondies.

Don’t be too alarmed, but we have firm information that HMRC are now putting together a scheme to take “security” by various means, before agreeing that a business can have a time to pay arrangement. This will effectively be a route one method to getting walking possession over your assets or worse still P.G.s you could do without.

The real worry, is that failure to meet the demand to pay the NIC and paye or other taxes overdue and subject of the time to pay agreement will be made a “Criminal Offence”!! and carry fines of several £1000 on top of late payment penalties already on the statute books.

Need someone to put your mind at ease, call us at Blondies, your friendly accountants Manchester.

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