Limited company purchase

[Js1977]

How do you precondition a car if the Smart Charger has (I presume?) disconnected the power from the car?

And if you want to charge a car during the day?

We never need to charge during the day since they are always "fully" charged overnight. there have been a couple of anomalies but it was a case of pulling the phone out and telling the charger to charge. Once car is fully charged or unplugged after that anomaly it just reverts to the schedule automatically. Any preconditioning in the winter/colder months is done from the battery which was charged on the cheap rate (more than enough range for us even after preconditioning).

If there was ever a need to include preconditioning from the mains I should set another schedule to broadly cover just that adjacent to the cheap rate if that makes sense.

 

[WannabeOwner]

if that makes sense.

Indeed, thanks. Much as I presumed but I reckon its six-of-one and half-a-dozen of the other having to work around Smart Charger or Tesla's lack of "obvious" features like "Stop at end of off-peak"

All these things are definitely 1st-world-problem and rarely happen, but can be a major annoyance when they do - 'coz the driver has the assumption car will be fully charged "tomorrow morning", and if for any reason it isn't then, unlike ICE, there is significant delay having to stop-to-rapid-charge. Heck! I get fed up at my lack of ability to turn on CLIMATE when I get up from the table in a restaurant - but I'm close to 100% reliable on that!! Never had that problem when my car didn't have that ability - same back when central locking and electric windows became standard

 

[pk01]

collected my model 3 from brent cross ! collection experience is a bit underwhelming considering we are paying near 50K for the car and is being handed over from a car park with most of the staff under 25 !!

the car itself is very impressive so far, I love the interior, steering wheel (mostly as they are similar to Merc !) and drivability is great, need to get used to doing all the things with the big touch screen ! btw I managed to get my car with 54% charge !

 

[Overworked]

Just remember that the idea is more like an Amazon delivery for most of us. Simple and no frills.

By way of your Merc comparison, you could have it handed over by a man/woman in a suit in a slick store with a big bow and a large bunch of flowers as an optional extra: add £1000.

Most of us have opted out from that option as we have found it adds nothing to the user experience.

Enjoy your car.

 

[pk01]

at least they should construct a large delivery hub by any of the motorway exits (M1, M4 etc) with waiting area in the first floor and handing over the cars from the covered basement ! Tesla are a bloody 1 Trillion dollar company until recently ! I am not expecting 5 star experience but they should up their game now that competition is catching up albeit slowly

 

[Rooster6655]

at least they should construct a large delivery hub by any of the motorway exits (M1, M4 etc) with waiting area in the first floor and handing over the cars from the covered basement ! Tesla are a bloody 1 Trillion dollar company until recently ! I am not expecting 5 star experience but they should up their game now that competition is catching up albeit slowly

The NEC collection isn't a bad place to collect, basically its a no frills delivery service to save money, nowadays they would probably charge extra for premium delivery experience if they had it.

 

[pk01]

good to know NEC collection point is not bad, Brent Cross is totally bad, their delivery hub is a porter cabin in a parking lot ! no waiting area and people coughing into each other ! added to that traffic is a nightmare there all the time !

 

[Flat]

Tesla's lack of "obvious" features like "Stop at end of off-peak"

If you’re open to changing supplier to Octopus, they will schedule your charge automatically in their 6-hour off peak window (10p/kWh) via the car’s API. Although annoyingly the car still pulls peak rate electricity if/when you precondition on cold mornings unless you turn off or unplug the EVSE.

 

[pk01]

Just plugged it in overnight with 3 pin / umc cable that comes with the car and now it is charged up to 80% !
no more dependency on petrol/diesel stations ! very happy !

my work has free charging and I am thinking of charging at home with 3 pin for now and delay the wall connector for a bit, from my calculation 3 pin charges 2.3kw per hour, for standard range plus it takes about 18hrs !

 

[WannabeOwner]

at least they should construct a large delivery hub by any of the motorway exits (M1, M4 etc) with waiting area in the first floor and handing over the cars from the covered basement

Sorry, but I don't see the point ... stroll up to "reception", provide ID and be given the keys - probably all of 5 minutes. Not sure what else is needed ... and anything else is just more overhead cost for the site to have to provide and, ultimately, the punter to pay for. Spotty-youths on hand for anyone that has a snag with anything. Its certainly different to dealership, but my experience of dealerships was mixed. Sometimes the handover person was really good / knowledgeable, sometimes they weren't, in which case they were a hindrance.

Last one I got was from a derelict parking lot (Staines) whey they had erected a Tent for "Reception"

If you’re open to changing supplier to Octopus, they will schedule your charge automatically in their 6-hour off peak window (10p/kWh) via the car’s API.

Thanks. I use an API scheduler (TesalFi in my case) to do a number of things, including stopping the charge when Off Peak ends.

I am thinking of charging at home with 3 pin for now and delay the wall connector for a bit, from my calculation 3 pin charges 2.3kw per hour, for standard range plus it takes about 18hrs !

Nothing wrong with that but maybe a couple of things to consider:

Wear and Tear on the UMC (which is similar price to a wall charger)

13AMP ringmain socket not designed for continuous 2.5A draw. Make sure the plug isn't getting hot (if it does try one nearer to the consumer-unit - e.g. an old, frayed socket the previous home owner added to the garage is probably sub-par!!)

If you are going to take it with you "just in case" then that means coiling it up on a wet day

Its less efficient than a wall charger (dunno how much, but might be as much as 10% ... but would take a long time to get the wall charger value back ...)

Wallcharger means that the UMC is available as "backup". UMC-only means no backup if something happens to it.

Electricity Price - UMC is, say, 8 MPH, Wallcharger 25 MPH. Taking advantage of, say, a 4-hour overnight Off Peak will mean that Wallcharger can supply 100-ish miles. For anyone with a daily commute less than 30 miles that's moot.

 

[pk01]

thanks for the good pointers on the UMC, I will probably charge 4 hours a day with UMC until wall connector is installed, hope this will not cause any issues, thanks

 

[sole1517]

Hey all. Hope you're well. I thought I would ask on here about buying through ltd company and this appears to be one of the latest threads.

I don't quite understand the numbers..

For example let's say my corporation tax is 15k foe 22/23.

Let's say I want to purchase a M3P = 60k Inc VAT.

I'm the owner of my company and it goes ok.

If bought outright for example, are we saying that we take off the CT, so the vehicle now becomes 45K?

If I'm VAT registered and buying fully through the business then I can claim back at least 50%, so does that mean that the 60k car now realistically costs me 40kish?

Every time I speak to the accountant I get different answers .

Thank you very much

 

[Rooster6655]

Hey all. Hope you're well. I thought I would ask on here about buying through ltd company and this appears to be one of the latest threads.

I don't quite understand the numbers..

For example let's say my corporation tax is 15k foe 22/23.

Let's say I want to purchase a M3P = 60k Inc VAT.

I'm the owner of my company and it goes ok.

If bought outright for example, are we saying that we take off the CT, so the vehicle now becomes 45K?

If I'm VAT registered and buying fully through the business then I can claim back at least 50%, so does that mean that the 60k car now realistically costs me 40kish?

Every time I speak to the accountant I get different answers .

Thank you very much

I am not sure but I thought you could only claim the 50% vat back if you were leasing even if its only being used 50% for work/personal.

If you purchase a 60k car and are not claiming the VAT then you would be accounting the 60k as a cost, so if your profit for that year is 75k and your corporation tax is 15k then the profit is going to be reduced for the 1st year to 15k and the corporation tax being now 3k (assuming 20% CT rate)

 

[sole1517]

I am not sure but I thought you could only claim the 50% vat back if you were leasing even if its only being used 50% for work/personal.

If you purchase a 60k car and are not claiming the VAT then you would be accounting the 60k as a cost, so if your profit for that year is 75k and your corporation tax is 15k then the profit is going to be reduced for the 1st year to 15k and the corporation tax being now 3k (assuming 20% CT rate)

Thank you for taking your time to reply.

50% if personal. 100% if fully used by company.

So what I'm saying is effectively is there 20% CT relief 100% on first year and say 10% VAT relief? If so. That's a good discount.

Admittedly spending money to save money but hey

 

[Rooster6655]

50% if personal. 100% if fully used by company.

I am quite sure you can't claim the VAT unless its a lease or the rules have changed, if you are claiming it against a lease then I believe you would claim that lease costs against your CT not the whole value of the car.

The exception to claiming VAT on an outright purchase would be if the car for example was solely used for work and left at work

 

[WannabeOwner]

are we saying that we take off the CT

I expect you are aware, but you have to pay the CT back on sale (well ... the "profit" on sale, given the 100% write-down, contributes to CT at that time).

If you buy another one, at that time, and the 100% first year write-off is still in place at that time then that point will be moot

 

[sole1517]

I expect you are aware, but you have to pay the CT back on sale (well ... the "profit" on sale, given the 100% write-down, contributes to CT at that time).

If you buy another one, at that time, and the 100% first year write-off is still in place at that time then that point will be moot

Yes thank you

I'm just trying to work out if its worthwhile basically. I'll have 15-25k CT bill April 23, I've already had a Tesla 3SR back when they first came to the UK, I've had a break for a while and now would love a Y. I don't need it but in my head if I can pay my CT towards a Tesla and use it for work then happy days.

 

[WannabeOwner]

I'm just trying to work out if its worthwhile basically

Probably the greatest (only?) risk is that CT rate rises - so you pay "less" on purchase and "higher percent rate" on the profit at sale.

Salary Sacrifice (if you pay yourself one, rather than dividend) might be a better route.

 

[btc1k]

Hey all. Hope you're well. I thought I would ask on here about buying through ltd company and this appears to be one of the latest threads.

I don't quite understand the numbers..

For example let's say my corporation tax is 15k foe 22/23.

Let's say I want to purchase a M3P = 60k Inc VAT.

I'm the owner of my company and it goes ok.

If bought outright for example, are we saying that we take off the CT, so the vehicle now becomes 45K?

If I'm VAT registered and buying fully through the business then I can claim back at least 50%, so does that mean that the 60k car now realistically costs me 40kish?

Every time I speak to the accountant I get different answers .

Thank you very much

VAT and CT are two different questions and treatments.

Purchasing:
100% FYA which means the full cost is charged as an expense, reducing your profits and therefore CT.
Example, £100k profit, minus £60k Tesla, equals £40k profit. 40k @ 19% = £7,600 CT as opposed to 100k @ 19% = £19k, saving £11,400.
So your Tesla costs £60k minus £11,400 = £48,600 BUT
When you sell the car, you book the sale price as a profit and pay the prevailing CT (which will be higher now)

VAT - You can reclaim 100% if business use only, or nothing if it is available for personal use.

Leasing:
Lease costs are a business expense.

VAT - You can reclaim in full if business use only. or half the VAT if it is available for personal use.

 

[btc1k]

Probably the greatest (only?) risk is that CT rate rises - so you pay "less" on purchase and "higher percent rate" on the profit at sale.

Salary Sacrifice (if you pay yourself one, rather than dividend) might be a better route.

Salsac within your own company probably adds layers of complexity which you don't need.

Just lease through the business and pay the BiK