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Would it be foolish to pay for a vehicle before delivery?

Deastons · 2019-12-05 16:26:38

I have a new work vehicle on order, being delivered in January. My company year end is December. Paying for it this month would be good for my tax bill, but is this even possible/a good idea?

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DoaM Posts: 11,863 Forumite

6 December 2019 at 5:27PM

It doesn't matter if the company's FY end is 31/12 ... for personal taxation (which is what BIK is) then the 05/04 date (tax year end) is what matters, so I don't understand how paying for it now would be "good for my tax bill" - unless the OP means "my company's tax bill".

Anyway, OP should ensure that the vehicle hasn't been reversed into a hole prior to arrival.

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