Company Car

[EbayAccountant.co.uk]

Hi all,

I need to buy a company car, I have three options - not sure which is the best, I can put it through one of my Ltd Co's - which as I understand is an absolute knightmare for tax purposes, also I can put it through an LLP or take the car personally and take a monthly allowance from a company - anyone have experience on the most tax efficient way? For info the car is a 4x4 list price of about 60k - does this make any difference? Thanks

[robbob]

Hello Ebay

Have a look at this thread - it should help a little
http://www.taxationweb.co.uk/forum/directors-company-car-t29410.html?hilit=bmw#p112018

[dentist]

Also wanted to register company car.
But there is + one more problem - insurance.
Private car / company car - 1300£ / 4000£ Per year.

Decided to buy privately and claim 40p/mile.
Also not clear is it possible to claim car allowance every year?

[robbob]

Hello dentist

Any car tax paid on top of the the allowable business mileage claims will be taxable unfortunately.

[Budget83]

A Car allowance is just a fancy word for salary. Which would be subject to income tax and Ni, No real benefit there.

Can you answer the following whats the CO" emissions and whats the total mileage and business mileage you will be completing each year.