LTD Co. - Car Acquistion Options

[ZoppZ]

Currently use my own car and charge the milage however the car is costing too much money to maintain. I do around 11-12k per year, mostly business milage. I need a new set of wheels.

What are my options in terms for contract hire, lease, etc.? What should be typical spend per month? How much can I claim for fuel a month?

[malvolio]

Currently use my own car and charge the milage however the car is costing too much money to maintain. I do around 11-12k per year, mostly business milage. I need a new set of wheels.

What are my options in terms for contract hire, lease, etc.? What should be typical spend per month? How much can I claim for fuel a month?

At 11k business miles a year, your car will be earning roughly £4250 which ought to pay most sensible maintenance bills. Buy a 3-year old diesel Focus for work and have virtually free motoring

Anyway, general advice is buy your own and charge it: company cars aren't worth it any more. But think about director loans and dividends to pay for it; some combinations can be very tax efficient. If you have an accountant, ask them for advice.

[ZoppZ]

My current car has costed 4K+ in the last year to keep it going and resulted in loss of earnings. I am looking for trouble free motoring, with maintenace included in the contract.

Accountant has asked to look into options & cost of leasing or hiring a sub 20K car before he gives further advise on my circumstances.