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Reducing company car tax liability
titanflux
Posts: 36 Forumite
in Cutting tax
Hi all
I'm just about to order a new company car.
On the comcar website their company car tax calculator asks about options added to the car which are for business use and therefore the value of them is not taxable.
I've not heard of ths before - if this is true then could I avoid the benefit in kind of the value of things like the bluetooth/navigation options? I'm looking at about £1,500 onto the car value for these.
How would my employer know what P11d value to use?
I'm just about to order a new company car.
On the comcar website their company car tax calculator asks about options added to the car which are for business use and therefore the value of them is not taxable.
I've not heard of ths before - if this is true then could I avoid the benefit in kind of the value of things like the bluetooth/navigation options? I'm looking at about £1,500 onto the car value for these.
How would my employer know what P11d value to use?
I'm a pharmacist, not a psychic. :rotfl:
0
Comments
-
Very few accessories actually count though, certainly not sat-nav.
The exmption applies to things such as tow-bars which an employee may be essential for business use.0 -
If it is your company and you have the cash, IMHO the MSE option is to buy the car and charge mileage. As a director, you can take a company loan up to £5,000 and I believe this is tax free?"A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0
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