Company car?
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sjkr
Registered Posts: 74 Regular contributor ⭐
Hi,
I have a client who has recently formed a limited company. He is thinking of buying a car, and asked me the question, is he better off taxwise if he buys the car himself, and charges mileage to the business, or should he make the car the property of the business, taking into account that it would then be a taxable benefit to him personally.
Just wondering which option everyone else would advise? :confused1:
I have a client who has recently formed a limited company. He is thinking of buying a car, and asked me the question, is he better off taxwise if he buys the car himself, and charges mileage to the business, or should he make the car the property of the business, taking into account that it would then be a taxable benefit to him personally.
Just wondering which option everyone else would advise? :confused1:
0
Comments
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Depends on CO2 levels but 99% of the time it works out best for Director to own car and charges mileage to company0
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Thank you - that is what I told him, but wanted to check it was correct advice! :001_smile:0
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