Petrol through my business

[Exigeowner]

I have recently purchased a 2nd hand RR Vogue which I intend to keep for around 5 years, It was purchased with my own money so not to pay the high taxes if company car.

Although I knew the fuel costs im not enjoying the £ 90.00 per week it takes to fill up, Can I put the bill each week through the company as being a perk, I do little business miles so have little to claim back there.

When I say Can I, I think I know I can but will I be worse or better off doing so, I pay the high rate tax and I guess the fuel bill will be approx £ 4500 per year.

thanks all

[Eric Mc]

I am assuming your business is a limited company.

If the company provides the fuel for the running of your car, then there is a Benefit in Kind for that as well.

By and large, unless the car has a very low CO2 rating, it is best to keep the car and the fuel out of the company and just claim the 40p/25p per mile.

[Exigeowner]

Hi Eric, Yes its a Limited company and the car wont have a low rating,