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UK: buying from Tesla used inventory.
- Thread starter Mr Puzzles
- Start date
I think the point was that if you're going to offset an asset purchase against tax then it makes sense to wait and do it against a 25% rate rather than a 19% one, but as the buyer is a sole trader it's irrelevant.
I offset the Leaf against tax when I bought it, I'm now selling it and have realised that 40% of it is effectively owned by the tax man. You don't really gain anything from first year full capital allowances over the long term. It's the same with pensions, sure you can save tax by paying in, but they get most of that back when you're drawing down.
Anyway, I've heard absolutely nothing from Tesla since paying my £200 a few days ago. How do you find this web chat? I had a look buy couldn't find it.
I offset the Leaf against tax when I bought it, I'm now selling it and have realised that 40% of it is effectively owned by the tax man. You don't really gain anything from first year full capital allowances over the long term. It's the same with pensions, sure you can save tax by paying in, but they get most of that back when you're drawing down.
Anyway, I've heard absolutely nothing from Tesla since paying my £200 a few days ago. How do you find this web chat? I had a look buy couldn't find it.
I paid on the 9th and wouldn’t have had any communication if I didn’t ring them. If you want to go through the online chat, just go into Inventory and the online chat pops up.
WannabeOwner
Well-Known Member
I made money out of using the capital allowance saving over the three years I owned the car ... and then the next car effectively just rolled that benefit (if corporation tax rate changes then old cars is sold at [profit charged at] new rate but new car benefits from [tax refund at] new rate ... until such time as they do away with the benefit). I've had the use of it since 2015 ...
My pension has made a tidy sum - money within it doing better than if I had been investing and paying tax as an individual.
Sure, I'll pay tax when I draw a pension, but I don't see that as much different to paying tax on my salary. There was a separate discussion here a while ago about moving final-salary schemes into a self administered pension, and majority said they hadn't done it as advisors were very cautious / told them the risk [e.g. stock-market fall] was significant. All I can say is that it worked for me, way beyond what I could have achieved as a private investor.
Ah, thanks. That wasn't happening in Firefox, for whatever reason, but it worked with Edge.
Not that it did any good, Tesla don't have a clue when I'll hear from them.
Rates for cars
You can claim one of the following:- the full value of the car as 100% first year allowances
- 18% of the car’s value (main rate allowances)
- 6% of the car’s value (special rate allowances)
Which rate you can claim depends on when you bought the car and its CO2 emissions.
Check your car’s CO2 emissions.
Main and special rates apply from 1 April for businesses that pay Corporation Tax, and 6 April for businesses that pay Income Tax. The 100% first year allowances rate applies from 1 April for all businesses.
Cars bought from April 2021
| Description of car | What you can claim |
|---|---|
| New and unused, CO2 emissions are 0g/km (or car is electric) | 100% first year allowances |
| Second hand electric car | Main rate allowances |
| New or second hand, CO2 emissions are 50g/km or less | Main rate allowances |
| New or second hand, CO2 emissions are over 50g/km | Special rate allowances |
As per the attached from gov.uk, 100% is for new electric only
Main rate allowances are 18% per year- which is fine but not what I needed
This one won't be around for long.
www.tesla.com
New & Used Electric Cars | Tesla
Find new and used Tesla cars. Every new Tesla has a variety of configuration options and all pre-owned Tesla vehicles have passed the highest inspection standards.
www.tesla.com
Owch.This one won't be around for long.
New & Used Electric Cars | Tesla
Find new and used Tesla cars. Every new Tesla has a variety of configuration options and all pre-owned Tesla vehicles have passed the highest inspection standards.
Half price and a year warranty!
Yeah you can get approx. £4k off a new RWD, £5k off the LR and £6k off the Performance models.
I got a text yesterday saying 'Due to unforeseen circumstances' they have had to cancel my collection appointment on the 31st. I got on the chat straight away and they're saying there is a delay getting some 'minor cosmetic work' done, but they couldn't even give me an estimate of a new date. The guy on the chat promised to get back to me today, i'm not holding out much hope!
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