Millionaire businessman who 'needed £6m yacht to impress clients' ordered to pay tax |
What a clown. !! All he had to do was hire out the boat, which would then become an asset to hire. This makes it tax deductible. As long as it was available to hire for a certain period of time, he could use it for personal cruises.
The same thing can be done with holiday homes,motorhomes and caravans. As long as they are available it is not necessary for them to have income. This would mean trading at a loss which can b st against other income and reduce tax liability.
Why do you think super yachts can be hired out ?????
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