Company Car

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ASB replied

18 May 2006, 11:21
Originally posted by ladymuck

I think his new van is going to be officially parked away from home overnight to hopefully get round it. There's lorry park up the road that he's going to park in.

I think there are some changes in the rules that go with it that make it a bit easier to get round.
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ladymuck replied

18 May 2006, 11:11
I think his new van is going to be officially parked away from home overnight to hopefully get round it. There's lorry park up the road that he's going to park in.
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ASB replied

18 May 2006, 09:59
Originally posted by ladymuck

Ditto that, I have a personal lease on my car and just claim the mileage. The tax you get hit for outweighs any VAT or other benefits you might get by putting it through your company. Unless you can prove that the car is not parked overnight anywhere near your home and it is never used for personal trips. You'd even get stung if it is a commercial vehicle, like a small van (my poor Dad gets an extra £500 tax bill a year and he's only on £13k to start with all because he's given a Renault Kangoo!).

Your dad's going to be really unimpressed when it goes up to 3k then. Either this year or next.
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ladymuck replied

18 May 2006, 07:53
Ditto that, I have a personal lease on my car and just claim the mileage. The tax you get hit for outweighs any VAT or other benefits you might get by putting it through your company. Unless you can prove that the car is not parked overnight anywhere near your home and it is never used for personal trips. You'd even get stung if it is a commercial vehicle, like a small van (my poor Dad gets an extra £500 tax bill a year and he's only on £13k to start with all because he's given a Renault Kangoo!).
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wendigo100 replied

18 May 2006, 07:46
I used to have a company car but it got too much hassle with benefit taxes. It depends on what car you get and how expensive it is, but I am now a lot better off since I started claiming mileage on my personal car.
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Mikeeelawson started a topic Company Car

18 May 2006, 07:42
Company Car

I have been running as contractor for about 2 years and have my own ltd company with flat rate registered VAT.

I would liek to get a car however am not sure of teh most tax efficient way with regard to both tax and VAT.

The thoughts I have are:

- Business contract hire
- Personal contract hire
- Buy it and use as my own and claim mileage

Any thoughts

Mike
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