Best ways of purchasing cars.... accounting advice needed!!

[laserblues2]

I'm looking for some advice and details about purchasing cars. I understand the different leasing / outright purchase / pcp's etc - but not sure what the best method is with regards to owning the cars, ownership of the cars, tax and maintenance.

Thought someone on here may be able to advise....

Thanks in advance!

Nick

[Eric Mc]

YHM

[fidgits]

well, if your looking for the most 'cost effective', then surely it is to buy at 5 years old for cash.. thus minimising depreciation and interest charges?

[obiwonkeyblokey]

HI Eric,

Perhaos you could email the same info? I am looking at giving cars or alloowances to staff and would like to know the best way, whether I should purchase outright or lease.

Many Thanks

Owen

[Eric Mc]

Could you e-mail me?

I didn't give any specific advice but more a series of questions requesting clarification Any advice is going to be based on knowledge of what the individual or business wants to achieve.

I have offered also to speak to him on the phone but I haven't had a call yet.

PS - don't you guys have your own accountants? This stuff should be bread and butter advice to them.

[shirepro]

Should be basic maths? I worked out the options with the various emmissons, service charges etc to make the decision. In the end I bought an eco-warrior and got the 100% allowance becdause my own car was old and expensive to run.

[Eric Mc]

It may be basic maths - but you need to be familiar with all the complex legislation surrounding tax treatment of cars in businesses - and the differences in treatment of leased and owned vehicles - not to mention the Benefit in Kind rules for cars used by company directors or employees.