Another company car question - sorry
Discussion
Hi Guys
Im a director of my own company with 2 employees, turnover around 750k. Always bought my cars outright, but im thinking of getting something aroound 45k. Yes i have meeting with accountant next week to disucss this but whats the best way to go about in a tax effecient way? i will be using it for business and personal use. Anyone doing anything similair and how have they gone about it?
It cant be classed as a pool car as there will be some personal use and ideally not have to pay company car tax. Worst case is i will buy it and pay for it with my own personal money/loan. But just though if done through the business there maybe some benefits.
Have read a few old threads but still unsure best course of action
Thanks in advance
Im a director of my own company with 2 employees, turnover around 750k. Always bought my cars outright, but im thinking of getting something aroound 45k. Yes i have meeting with accountant next week to disucss this but whats the best way to go about in a tax effecient way? i will be using it for business and personal use. Anyone doing anything similair and how have they gone about it?
It cant be classed as a pool car as there will be some personal use and ideally not have to pay company car tax. Worst case is i will buy it and pay for it with my own personal money/loan. But just though if done through the business there maybe some benefits.
Have read a few old threads but still unsure best course of action
Thanks in advance
If you are happy with something below 160g then it could be an option to put it through the company, anything juicy/high performance is going to hammer you on BIK so better off doing it personally and bill the company pence per mile.
There are lots of other factors to consider but IMO that is the biggest.
There are lots of other factors to consider but IMO that is the biggest.
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