We often get asked whether clients should put a car through the business, In most cases, the answer is no.
Cars used to be a huge benefit and perk – years ago people were actually encouraged to drive more miles to pay less tax – but now, unless it’s an electric or a hybrid car, it’s generally not worth having a ‘company car’.
We can do the calculation for you, based on the value of the car, CO2 emissions, etc but in the majority of cases, you’re better off buying a car personally, and claiming mileage through the business.
If you’re getting an electric car or a hybrid then the situation can be different and it can sometimes be worthwhile to buy/lease it through the business.
The only way to get the best advice is to speak with us about your specific situation.
To read more of our most frequently asked questions go to our Knowledge Centre.