Company Car - Can MyCo buy a used a car?

[SimonMac]

So in theory with the right car it could be worth while, for example the Volvo V50 is 99g CO2 so I could write off the full value of £24k from Corp Tax, a BIK of £3,080 which on an annual salary of £15,000 will only work out about £600 a year.

Using the figures from that Auto Express Article

[northernladuk]

So in theory with the right car it could be worth while, for example the Volvo V50 is 99g CO2 so I could write off the full value of £24k from Corp Tax, a BIK of £3,080 which on an annual salary of £15,000 will only work out about £600 a year.

Using the figures from that Auto Express Article

Plus the fact the LTD pays for all maintenance, service and tax etc.

[SimonMac]

Hmmm, might have to look into this more.

[Pondlife]

Plus the fact the LTD pays for all maintenance, service and tax etc.

And insurance. I'm starting to think this might be a winner.

Beamer 320d is similar figures.

[Clare@InTouch]

So in theory with the right car it could be worth while, for example the Volvo V50 is 99g CO2 so I could write off the full value of £24k from Corp Tax, a BIK of £3,080 which on an annual salary of £15,000 will only work out about £600 a year.

Using the figures from that Auto Express Article

Keep in mind that the benefit in kind forms part of your overall income, so you'll be able to take less in dividends before you cross into higher rates. If you're usually right up to the limit and you want to take the same amount, then that's £3,000 in dividends that will then be higher rate which will result in personal tax of £750.

[SimonMac]

And insurance. I'm starting to think this might be a winner.

Beamer 320d is similar figures.

Even with the EfficientDynamics the 320d is 128g/km CO2 which will mean only being able to offset 20% against Corp Tax compared to the full 100% is you get it below the Magic 100g/km

[Pondlife]

Even with the EfficientDynamics the 320d is 128g/km CO2 which will mean only being able to offset 20% against Corp Tax compared to the full 100% is you get it below the Magic 100g/km

It's showing as 109g/km and 100% FYA for corp tax according to the linky from Claire.

So it's a bit more than the Volvo but not that much.

[SimonMac]

It's showing as 109g/km and 100% FYA for corp tax according to the linky from Claire.

So it's a bit more than the Volvo but not that much.

I thought the 100% Cut Off was 100g/km not 110g/km.

I would double check the figures on the the 320D, as it seems the latest 3 Series has a higher CO2 rating BMW CO2 model finder : BMW 3 Series Sedan 320d

[Pondlife]

Very strange.

BMW UK | BMW 3 Series | New 320d EfficientDynamics Saloon

[SimonMac]

Very strange.

BMW UK | BMW 3 Series | New 320d EfficientDynamics Saloon

Hmmm, the price difference between similar spec Volvo S40 and 320d is £24k v £32k?! Just not enamoured over the engine in the Volvo only being a 1.6