ltd co..car advice

[mark09]

just set up ltd company and thinking of getting a car! can i get it thro company? lease hire? vat free? any car suggestions?

[Troll]

Use private & claim mileage

[mark09]

i know that is an option but looking for options of getting car through business

[Darren@UptonAccountants]

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.

[DaveB]

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.

[Troll]

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.

That's what I said

[Bluebird]

ditto