Car if you're director?

[job38]

As a salaried director of one's own company, what is the most tax efficient way to own/run a decent car?

Is it the same bik for a normal salaried employee ie., pants! or are there any other options?

[Plotloss]

I think you're the same as a normal employee in the eyes of the shylocks.

Its one of those things that needs to be fully calculated I think, may work out cheaper to just take the cash out and buy a car privately.

[Eric Mc]

MAny, many permutations and outcomes possible.

There are some car BIK calculators in the Internet.

[JagLover]

job38 said:

As a salaried director of one's own company, what is the most tax efficient way to own/run a decent car?

Is it the same bik for a normal salaried employee ie., pants! or are there any other options?

It is exactly the same as for any other employee, with the exception that a director will always be assessed on the BIK whatever their salary while an employee earning less than (£7,500 a few years back) will not.

The most tax efficient route depends on the car and your business mileage.

[job38]

Thanks for the replies, I feared that may be the case