skip to navigationskip to main content

Phone: 01438 811771 

Email:

Choosing a Service

What Our Clients Say

icon-free-consultation

Free Initial Consultation

Request a Callback

Tax Tips & News

P11d Pain – Changing the ownership of your company car can be highly beneficial

You have had the use of a company car bought new for a number of years.  While the value of that vehicle has gone down substantially, you keep having to pay Class 1A NICs and personal income tax on the list price at a rate determined by its CO2 output.  The fuel economy is probably poor compared to new models.

In some cases, the tax per year can more than the value of the car.  This is probably false economy and it may be worthwhile the company passing you the car.

Also business mileage at 45p per mile tax free may exceed the running costs of holding the car privately.

If the annual p11d charge is approaching the value of the car, it is time to consider your options.    Please call if you want to follow up on this idea.

Great reasons and promises we make to you which is why you should call us before deciding on your accountant.

Our Promises

We’re a dedicated team which strives to provide success to our clients in regards to all their accountancy needs.

Meet our team
Copy link
Powered by Social Snap