Second company car?
Discussion
Not sure if this should be here or in Business but here goes :
My wife has a ltd company and has a leased company electric car as sole director/employee, with 2.5 years to run on the contract.
Her ltd co is fully VAT registered due to turnover.
I have a ltd company, but am not and am unlikely to be VAT registered.
Can my wife lease a second car via her company? Not a pool car, not a van or pickup, just a cheapish ICE/hybrid estate car to allow longer range journeys, with both of us insured as per the existing EV. The VAT if I were to lease via my co would make quite a difference to monthly payments.
What would HMRC make of this and what effects would it have on BIK etc?
Has anybody done this with two cars?
TIA
My wife has a ltd company and has a leased company electric car as sole director/employee, with 2.5 years to run on the contract.
Her ltd co is fully VAT registered due to turnover.
I have a ltd company, but am not and am unlikely to be VAT registered.
Can my wife lease a second car via her company? Not a pool car, not a van or pickup, just a cheapish ICE/hybrid estate car to allow longer range journeys, with both of us insured as per the existing EV. The VAT if I were to lease via my co would make quite a difference to monthly payments.
What would HMRC make of this and what effects would it have on BIK etc?
Has anybody done this with two cars?
TIA

You can have as many company cars as you like. Both my Range Rover and Tesla are my company cars. My wife isn’t an employee and drives the Tesla as her car was adviced by my accountant this was the cheapest way to own them.
BIK just applies as they would if you owned only one of them just added together.
BIK just applies as they would if you owned only one of them just added together.
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