Intuitively you would think a company car must be owned by the employer in order for the employee to make a capital contribution.
company cars
Looks like I was right, it's the company car tax changes that are getting clients exercised.
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Significant changes to the company car tax regime will come into force from April 2012.
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AccountingWEB’s automotive community has a new place to gather with the creation of a new Company car discussion group
All the company car leases (where I work) start with a three month up front payment, followed by 35 others. The period is for 36 months hire.
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Hi,
Is car insurance paid by the company for an employee using a company car classed as a benefit in kind?
Thanks
Matt
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Company enters into an agreement to lease an "expensive car" pre 1/4/09 - an add back for the disallowable element of the rental payment is made on the tax comp using the normal formula.
Fleet decision makers feel that taxation will become a more important issue in influencing company car decisions over the next year.
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A vintage Ferrari was at the centre of attention in a recent tax tribunal case relating to benefits in kind.
