Not that surprised about the Ferrari Financing.
Many buyers will have their own businesses and can offset the cost of finance if the Car is a registered asset of the company or a part of the owners contract of employment. And of course claim depreciation against their asset register.plus all or part of the running costs!
I have mixed feelings on legitimate business reliefs and allowances for entrepreneurs/owners being used in this way.
Yes, successful business owners have often put up their own personal assets to build the business, so the distinction between personal and business is not absolute. And hard-working, employment-creating people deserve life's luxuries - why else would they do it.
BUT.. I know people who run helicopters, whole fleets of cars for the family including kids all 'on the company'. It seems that it's not that hard to find a tame accountant to help you finance your whole lifestyle through business tax reliefs.
What happens to demand for these 'toys' when HMRC get tougher on this, as they surely must?
