There are many factors which will influence your choice of company car. These can include the distance you travel, terrain covered, the price, your lifestyle and perhaps even your clients. However, is tax ever a consideration? The start of the tax year saw an increase in the company car rates and indeed the rates are … Continue reading Tax and Your Company Car
As of 6 April 2016 the tax payable on overdrawn director’s loan accounts increased from a rate of 25% to 32.5%. A director’s loan occurs when a director or participator takes money from the company which is not a salary, a dividend nor an expense repayment. Reversely, directors can loan money to the company which … Continue reading Reminder: Increased Tax on Director’s Loan Accounts
In recent years the government has changed the way that company cars are taxed. They have been trying to encourage more people to be environmentally friendly. Consequently, the higher a car's CO2 emissions, the higher your tax bill on the benefit in kind, and the lower the capital allowances that are available for the company. … Continue reading A Tax Efficient Company Car
The way company cars are taxed has changed quite significantly over the years, with the rules now concentrating on CO2 emissions instead of the list price. The government is trying to encourage more people to be environmentally friendly and consequently the higher the car's CO2 emissions, the higher your tax bill on the benefit in … Continue reading Can company car’s still be tax efficient?