I have never had to get involved with company cars on payrolls so I hope someone will be able to help with a technicality question.
I am happy with the process of BiK etc, but my question is around the car insurance.
There would only be one car in the company and one employee.
What is the process with the car insurance?
Does the company have to have it's own policy (if so can anyone recommend any companies or where to get quotes comparison)?
Or, can the company pay the employee's policy? Or can the company reimburse the employee for the cost of the insurance? (I'm not sure about these two options to be honest).
Any help is much appreciated, and apologies for what is probably such a simple question. I would prefer to get it right from the start.