Just a note to say your company can’t claim the VAT back on a company car (only on commercial vehicles not used privately). You can usually claim half the VAT back on lease cars.
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Ah, useful and informed information!
Awesome thanks...
And the lord said unto John; "come forth and receive eternal life." But John came fifth and won a toaster.Comment
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50% VAT can be claimed on a company leased car. The 50% block on VAT recovery is to cover private use of the car.Originally posted by Archangel View PostComment
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Recently switched from diesel personal lease to EV company lease to take advantage of the BIK and drip feed funds out of my company instead of spending post dividend income.
The low BIK for the next few years makes it a no brainer for all the same reasons it didn’t make any sense to BIK an ICE car. Lease costs, maintenance, insurance then go down as pre - CT expenses and 50% of VAT can be reclaimed.
Definitely made sense for me given my current lease was ending.Comment
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