Running a business - Cars & transport

Recently added Tips & Advice

CARS - 03.02.2020

Q&A - can I claim a mileage allowance?

Q. I’m a director and co-owner of a company. I use my own car for business journeys for which the company pays me a mileage allowance at HMRC’s official rates. Last month my car was off the road for over three weeks for repair and the insurance company provided me with a courtesy car. Apart from fuel, the use of the car cost me nothing so can I still claim the mileage allowance? ...
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TAX - COMPANY CARS - 21.01.2020

How tax efficient are electric company cars?

Electrically powered cars are now not only environmentally friendly but practical too. Plus, there’s now a decent range to choose from with more on the way. But how do they stack up for tax purposes against their fossil fuel equivalents?
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TAX - COMPANY CARS - 23.12.2019

April 2020 company car changes

Ultra low emissions. From 6 April 2020 where you provide a director or employee with a car which produces emissions of no more than 50g/km, the taxable benefit in kind will depend on the maximum distance that the car can be driven in full electric mode (its zero emissions mileage) without recharging. Also, the taxable amounts for cars bought before 6 April 2020 will be slightly different from those purchased on or after that date (see The next step ). ...
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VAT - CARS - 27.11.2019

The tricky business of VAT and motor expenses

When you buy a car, unless you use it 100% for business, you can’t reclaim any of the VAT paid on the purchase. However, more generous rules apply to the cost of motoring expenses, e.g. accessories, repairs, etc. What are they?
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TAX - COMPANY CARS - 12.11.2019

Share a company car with your partner

You’ve had a company car for years. A friend has recently told you that you could have saved tax and NI if it been provided to your spouse instead of you as they paid tax at a lower rate. Are they correct and is it a tactic worthwhile considering now?
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