Selling company car to employee

Selling company car to employee

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My company has recently agreed to sell an owned company car to an employee for £4,000. Fair market valuation (trade to trade price from a local dealer) would value the car at circa £7,000. What are the tax implications for the company and employee?

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By Ruddles
22nd Jan 2017 14:21

Surely your accountant should be able to save you the time of looking at HMRC guidance (which may or may not be correct) and explain it all to you.

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By Accountant A
22nd Jan 2017 16:35

Wouldn't have thought that "trade to trade price" was a market value for tax purposes.

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