Director's car is leased. On leasing the car, Director introduced capital sum to reduce monthly payments. Am I correct in saying the P11d benefit is calulated same as a regular company car ie. value minus capital contribution, multiplied by %? Also is it entered in normal company car boxes on P11d as opposed to the boxes for Asset made available for use?
Thanks for any help!
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Leased car
Is treated as a car benefit in exactly the same way as if it was a fixed asset on the balance sheet.