Limited company ownership and insurance

Discussion in 'Motorhome Insurance General Discussion' started by Knapscon, Jun 23, 2013.

  1. Knapscon

    Knapscon

    Joined:
    Jun 23, 2013
    Messages:
    2
    Location:
    Stroud
    Ratings:
    +0
    Hi. I want to get insurance for a motorhome but it is legally owned by my limited company and I can't get anyone to insure it. Can anyone help or have experience of doing this.
     
  2. dave newell lvs

    dave newell lvs Trader-Vehicle Services

    Joined:
    Oct 31, 2008
    Messages:
    2,796
    Location:
    Telford, Shropshire
    Ratings:
    +4,325
    We need a lot more info to give any meaningful advice. for example what is the main business of your company? Is the motorhome used solely in the course of the business or is there some personal usage? Why is the motorhome owned by your company and not yourself personally? All of these points and probably a lot more will have a bearing on insurance.

    D.
     
    • Like it Like it x 1
  3. camocam1

    camocam1

    Joined:
    Aug 28, 2012
    Messages:
    1,112
    Location:
    Elgin,Moray,Scotland
    Ratings:
    +783
    should not be a problem as I have 2 cars and (had) the MH insured via the Co as part of the fleet insurance with AXA BUT I took the MH off as "its insured for business use" AXA for MH £750 fully Comp (classed as commercial LGV" Comfort exact same insurance but with breakdown cover £275 so I saw NO benefit in having it insured via the Co. I have to say the cars are the opposite.
    So I suppose it all depends on WHY you want it insured via the Ltd Co
     
  4. Knapscon

    Knapscon

    Joined:
    Jun 23, 2013
    Messages:
    2
    Location:
    Stroud
    Ratings:
    +0
    Hi. I am using the limited company to fund the purchase, so legally the mh would be owned by the co. we would then use it for staying away in when on business and also personally. Hope this makes sense.
     
  5. Chris

    Chris Funster Life Member

    Joined:
    May 5, 2010
    Messages:
    17,445
    Location:
    kent
    Ratings:
    +62,499
    It might be easier to declare yourself a dividend and then buy the van in your own name. You could always charge the company a "rental" if it is used for company business.
     
  6. Barclaybasher

    Barclaybasher Funster

    Joined:
    Apr 13, 2012
    Messages:
    2,683
    Location:
    Derby
    Ratings:
    +10,935
    The problem with insuring the MH may not be just ownership but 'business use'.

    You might gain some tax or VAT advantage by trying to say that the MH has a business use - then again the tax and VAT may not agree - and they will have the final say on that.

    Using the MH for business may complicate matters when you come to sell it - or put buyers off.



     
  7. TheDogMan

    TheDogMan Funster

    Joined:
    Mar 29, 2011
    Messages:
    741
    Location:
    Rugby UK
    Ratings:
    +499
    I wonder why you would buy a new 50k MH through a Ltd company ??, could be that you could reclaim £8334 in VAT plus charge the company all the running costs and depreciate it through the accounts............... you may be called upon at some time to justify this to the revenue though.
     
    • Like it Like it x 1
Loading...

Share This Page