Small 4WD......Advice please!
Discussion
Mrs mv6 is looking for some new wheels! Going to go down the Contract Hire route and run it through her business.Leather,auto,heated seats and nav are essentials. So far we have test driven a Kia Sportage,Honda CRV,Mitsibushi Outlander and Toyota Rav4. At present the Rav is in the lead...........sweetest engine,best ride and quality feel interior. Monthly payments are also keen. Does anyone out there run any of the above or have any other candidates? Thanks.
Sounds like a very expensive way to run a car!
If the business is paying for it, then they'll take the hit on the contract hire...
However, your SO is going to then take the hit on BIK tax - which is absolutely horrendous on automatic SUVs.
For example - the top of the range auto Rav4 would cost her £145 per month in tax this year as a 20% tax payer (which I assume anyone self employed will be...) - or if she's declaring wages at the higher rate, £290 a month.
Even at 20% tax, the cost of the Rav4 overall is going to be £550 / month-ish. Or enough to buy a nearly new one outright over 3 years.
If the business is paying for it, then they'll take the hit on the contract hire...
However, your SO is going to then take the hit on BIK tax - which is absolutely horrendous on automatic SUVs.
For example - the top of the range auto Rav4 would cost her £145 per month in tax this year as a 20% tax payer (which I assume anyone self employed will be...) - or if she's declaring wages at the higher rate, £290 a month.
Even at 20% tax, the cost of the Rav4 overall is going to be £550 / month-ish. Or enough to buy a nearly new one outright over 3 years.
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