We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
tax navigation for car for business purposes
Consultant12
Posts: 1 Newbie
in Cutting tax
Hi there,
Can anyone advise on which is the best option when it comes to a car for work? If we assume the car is a BMW 318, would it be better to
a) buy second hand so as to avoid the VAT on new cars, have the asset and claim tax relief
b) arrange a business lease (3 yrs)
c) buy car myself and not claim any tax relief so as to keep my personal allowance (in the past, my company car seems to have negated my personal allowance to next to nothing ?
Any advice would be much appreciated.
Thank you!
Can anyone advise on which is the best option when it comes to a car for work? If we assume the car is a BMW 318, would it be better to
a) buy second hand so as to avoid the VAT on new cars, have the asset and claim tax relief
b) arrange a business lease (3 yrs)
c) buy car myself and not claim any tax relief so as to keep my personal allowance (in the past, my company car seems to have negated my personal allowance to next to nothing ?
Any advice would be much appreciated.
Thank you!
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards