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Purchase of a Motorbike for business and private use


#1

I have bought a new motorbike for my company.
My understanding is:

  • I can write it off in the first year and if I use it for private trips,
  • I need to put 20% of the purchase price to benefits in kind.
  • I will claim full VAT refund
    Now I’m trying to record it:

So, I have the purchase invoice:

And I have the journal to write it off:

And the last thing that needs to be done is benefit in kind of 2100.00 (20% of purchase price) processed through payrol sw. Which won’t appear in accounts as a separate line.

Is this the proper way how to deal with this case? Am I missing something?