Company Car

[paraclete]

Hi,

Apologies if this has been asked before.

I have a healthy balance in my company accounts, and am wondering what I can do with it. I also need a new car.

My accountant hasn't been terribly helpful (you get what you pay for!), but he has suggested that I can do this, but that I would be liable for Tax & NI Contributions, based upon the CO2 emissions. He gave me a link to HMRC calculations for this, but the website admits that their calcs are out of date.

So, looking at an example elsewhere...

1.6 TDI S line 2dr | A3 Cabriolet 2008 | Audi | Company Car Tax | Honest John

...would I be right to assume that my only personal liability of buying one of these with company funds would be £1667 pa (assuming 40% tax)?

Apologies if this is a dumb question, or if I have missed something obvious.

Look forward to gentle advice.


Thanks in advance.

[Waldorf]

General advice is not to have a company car but take a look at this http://www.nixonwilliams.com/images/...any%20Cars.pdf

[Old Hack]

General advice is not to have a company car but take a look at this http://www.nixonwilliams.com/images/...any%20Cars.pdf

Or get yourself a commercial vehicle, like a double cab pick up (New Ranger Wildtrak is a doosey and can be had for £20k + VAT), or a Land Rover, or VW Transporter Sportline Kombi. All very nice lifestyle vehicles which will leave you paying little, or no tax at all.

[SimonMac]

Or get yourself a commercial vehicle, like a double cab pick up (New Ranger Wildtrak is a doosey and can be had for £20k + VAT), or a Land Rover, or VW Transporter Sportline Kombi. All very nice lifestyle vehicles which will leave you paying little, or no tax at all.

Land Rover?

[northernladuk]

Hi,

Apologies if this has been asked before.

Instead of apologising for being lazy why not try a search to see if it has been asked before.

A guide to searching is here http://forums.contractoruk.com/welco...uk-forums.html

You will then find it has been asked..a lot.. and all the information you need has been provided and argued many many times.

Even posting it in the right forum might have been a good idea.....

[SupremeSpod]

Instead of apologising for being lazy why not try a search to see if it has been asked before.

A guide to searching is here http://forums.contractoruk.com/welco...uk-forums.html

You will then find it has been asked..a lot.. and all the information you need has been provided and argued many many times.

Even posting it in the right forum might have been a good idea.....

When did you joing the forum police and why wasn't I informed?

[SimonMac]

When did you joing the forum police and why wasn't I informed?

Have you tried searching for when this happened?

[SupremeSpod]

Have you tried searching for when this happened?

Search? Get f*cked, oh, it's you, not much chance of that happening.

[Old Hack]

Land Rover?

Yeah, get a 90 or County 110, or even wait for the new DC100's to arrive. All commercial vehicles...

[SimonMac]

Search? Get f*cked, oh, it's you, not much chance of that happening.

Let me google that for you