Please some help on Company cars which seem to be a thing of the past has more and more employees choose to take the money.
Anyhow small limited company the owner wants to buy his employee a company car to do his job working for him.
What would you suggest the best and tax efficent way and why.
1) Out right Purchase.
I suppose the last way is just a cost to the P&L for renting the car? rather than buying out right and then depreciation etc.
The employee will need to pay tax on the benefit.
Anyhow the best and simplest way for accounting and tax please.
- Increasing the personal allowance: A top priority? 433 16
- Can anyone advise on the best VAT Scheme to change to? 255 4
- Apologies for reposting this but first post was on Friday afternoon! 328 2
- CT600 Computations - Company Tax Return help 1,281 14
- Sage Bank Reconciliation 133 2
- Companies House incorporation service 329 12
- Factors affecting tax charge FRS 19 (marginal rate) 57 1
- P35 and Service Company questions 137 3
- VAT chargeable to conference attendees 188 6
- Is Accountancy Becoming like an Insurance Policy 174 1
- Long period of account for Corporation Tax 236 7
- Flat Rate VAT and EU sales (Non VAT) 133 3
- NIC £2000 Allowance - Care Support Worker 141 3
- VAT, vans, sole traders and business use. 1,590 12
- Share Capital 117 2
- Trading income or not? 178 1
- Charge HMRC 403 3
- FRS17 query 229 2
- How will auto enrolment affect accountants? 1,774 44
- If I repay my Directors loan, will I haveto pay tax on the profit ? 2,733 29
- Xtuple 545
- Qtac payroll for bureau 374
- Confused - Professional Association a Mutual trader, or not? 315
- Industrial & Provident Societies 310
- Why would HMRC offer to close an investigation by contract settlement 288
- CIS schemes 220
- Domain name sale and limited company 204
- Investment 183
- Director legal fees in loose connection to the company 182
- Italian friend wants to set up a UK company to reduce taxes 177