Should I get a car on my company books or not?

rammster

I have a limited company between myself and wife
Turnover 80k
Thinking of leasing a hybrid car as a business lease
List price - £34,235 (BMW 330e 248bhp PHEV)
emissions 44 g/km CO2 (Hybrid vehicle petrol+electric)
What would be my Benefit in Kind tax outgoing
How much of my lease costs would I be able to offset against tax.
Total lease cost for the above vehicle is £ 6800 over 24 months. (9+23)= 284£ pcm
I have another car on which I claim fuel and expense (fully owned- personally) , would my claim for that car be affected by having one on company books.

I do around 20k business miles a year (around 90% of my travel)
Just wanted to have an insight into how much it might cost me per month total before taking the leap. Any help deeply appreciated.

rammster

Sorry about this but I am a completely useless with tax. That is why all my accounting goes via professional accounting firm. Obviously what I know is that I supply my expenses and I am not completely sure what gets offset .

All I want to know is what this car would cost me per month and how much of the lease cost is offsetable. Eventually what I want to decide is to whether to take this on a personal lease or on a business lease.

Darksparkle

http://cccfcalculator.hmrc.gov.uk/CCF0.aspx

Savvy_Sue

rammster wrote: »

Sorry about this but I am a completely useless with tax. That is why all my accounting goes via professional accounting firm. Obviously what I know is that I supply my expenses and I am not completely sure what gets offset .

So is not worth waiting until tomorrow and asking your professional accounting firm?