Company Cars

Hello

 

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.

2) Finance

3) leasing

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.

Thank you

Comments
There are 6 comments. Login or register to view them.

Don't do it

Chris Smail |
Chris Smail's picture

Thanks Chris

ABPS |

Possibility of a van or pool car?

Exector |

I would generally agree

tonycourt |

Thanks Tony for your comments

ABPS |

 

katezoe |