Hybrid car under company

[tails007]

Hi. I'm an IT contractor under my own ltd company. I'm considering purchasing a hybrid car. At the garage this weekend the salesman suggested I buy under my own company as there are big tax breaks given that it is a hybrid.

I've asked my accountant years ago regarding purchasing a car via the company but he said it was the last tax efficient thing I could do sure to benefit in kind.

However, given that this is now related to a hybrid vehicle, does that change things? (Wary obviously of listening to a car salesman).

Cheers.

[northernladuk]

Quite a few threads raised about this over the years. Some quite recently. You can have a dig through them here.

https://www.google.co.uk/search?q=hy...obile&ie=UTF-8

[northernladuk]

P. S. There is only one type of person I'd trust less than an agent and that's a car salesman.

[tails007]

P. S. There is only one type of person I'd trust less than an agent and that's a car salesman.

Haha thanks for the link!

[Maslins]

Generally speaking we recommend against company cars. There can be short term financial benefits, but typically long term it doesn't make good sense, unless independent of tax you're very keen on having a brand new car every few years (and happy to pay heavily for it). See here for a blog post I wrote about it a couple of years ago, so some of the %s quoted are now out of date, but the sentiment remains the same.

[Pherlopolus]

Interesting blog article, seems to be more new car / old car

I swap my car every 2 years (take a 2 year lease) because I like to do so, I still don't bother pushing it through the company and just charge the mileage.

If I could go 100% EV, or convince Mrs P that a Pickup makes sense I would probably rethink.