New car -- registered keeper question...

[supermono]

Chaps,

We're about to buy a new company/pool car. I'm actually going to pay for it out of my own money (as a company director and major shareholder) since company car tax rules are so draconion. It'll be available for all our employees to use.

Thing is, who's the registered keeper? Do I have to actually name one or other of the likely drivers? Or me perhaps? Or can I state that the Ltd company is the registered keeper.

I'm thinking about how I can avoid having a situation where some speeding tax is applied and we've not managed to keep proper records (I know, I know, trivia like running the business should take second place) about who happened to be behind the wheel when the wrong number was being displayed on the speedo. I don't fancy getting the unable to provide details rap when johnny from stores mistakenly concentrated on the road ahead instead of what speed he was doing

Can I just give the dealer the name of the company and he'll register it accordingly? Or do they need a primary taxpayer individual instead?

SM

[mustard]

Registration in the company name is not a problem as long as you have an insurance policy in the company name

one possible problem, is dispite your genorousity, if the vehicle is being used by an employee for private use including travelling to and from their normal place of work it becomes a taxable benefit

I'm sure one of the resident tax experts can advise

[J500ANT]

And dont forget *if you buy something that emits under 120g/km of whatevers, and it costs under £12k then you can write off the whole purchase cost in the first year against any tax you pay on your profits. (So in effect the tax man gives you a free car!)

*double check with your accountant first just to be sure.

[justinp1]

J500ANT said:

And dont forget *if you buy something that emits under 120g/km of whatevers, and it costs under £12k then you can write off the whole purchase cost in the first year against any tax you pay on your profits. (So in effect the tax man gives you a free car!)

*double check with your accountant first just to be sure.

Not quite free, but the taxman will pay for 19% of it if you are paying corporation tax on the first tier.

The other interesting thing is that if you are purchasing a hybrid car or a car which runs on bio fuel you pay a tiny amount of company car tax. in the calculation I did it worked out something like the company could pay all the running costs and I would end up paying about £3 a month in car tax.

[J500ANT]

justinp1 said:

J500ANT said:

And dont forget *if you buy something that emits under 120g/km of whatevers, and it costs under £12k then you can write off the whole purchase cost in the first year against any tax you pay on your profits. (So in effect the tax man gives you a free car!)

*double check with your accountant first just to be sure.

Not quite free, but the taxman will pay for 19% of it if you are paying corporation tax on the first tier.

The other interesting thing is that if you are purchasing a hybrid car or a car which runs on bio fuel you pay a tiny amount of company car tax. in the calculation I did it worked out something like the company could pay all the running costs and I would end up paying about £3 a month in car tax.

www.hmrc.gov.uk/capital_allowances/cars.htm