Modern Classic - The Company Car

[AAV]

I have floated in and out of the company car situation for ten years, the deprecation on my own cars is to great, company car tax is depressing.

I'm looking at modern classics to run through the company, nothing spectacular just a bit of fun that can be used every day for work, more of a Rest-o-mod, only already restored and just ready for some upto date mods, so specifically we are talking TR6,Stag, I'm leaning towards the TR6 as back in 78 I had a 2.5 PI that was stunning and reliable if serviced, and could not afford a TR6.

So my question is, given that these cars have 1974-76 primary purchase costs that are now low, what would be the tax burden, and I'm guessing I would need to own up to any modifications.

I have tried the "Search" but there is a hell of a lot their.

Thanks

[KingRichard]

I think you'll find that the company car tax rules work on list price when new. So a 1973 TR6 is going to be worth a couple of grand as a company car, even though it will cost you c.£10k to buy.

Not too sure what happens with emmissions though. This may have changed now anyway, I read it a couple of years ago in a classic mag. Might be worth checking HMRC's website to see if you can find any more information

Having said that, the sites hamsters may be a bit busy at the moment looking for 25 million bank account numbers

[K50 DEL]

AIUI

A classic car, if run as a company car will be taxed on it's purchase price when new unless:

it's more than 15 years old and worth more than £17k, in which case it will be taxed on its current market price.