just set up ltd company and thinking of getting a car! can i get it thro company? lease hire? vat free? any car suggestions?
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ltd co..car advice
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Use private & claim mileageHow fortunate for governments that the people they administer don't think -
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Company Car
Best to speak to your accountant about this. If the company provides you with a car it falls into the Benefits in Kind legislation which means you'll pay tax & class 1a NI on the benefit.
The company will get tax reliefs on the lease or purchase of the car as well as servicing costs but in most cases this is far outweighed by the tax/NI paid on the benefit.Comment
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Not worth getting it through the co. The BIK taxation you'd pay out weighs any benefit you'd get from it.
Buy Privately and claim the mileage. It's the easiest and most efficient way to do it."Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
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Originally posted by DaveBNot worth getting it through the co. The BIK taxation you'd pay out weighs any benefit you'd get from it.
Buy Privately and claim the mileage. It's the easiest and most efficient way to do it.How fortunate for governments that the people they administer don't thinkComment
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