In article ,
Tony Bryer wrote:
For which you've got the car. For me the change in CC tax rules
was an absolute winner. My new Honda Jazz cost me (technically
my company of course) £11,200, 25% of this (reducing) each year
set against corporation tax, along with road tax, insurance and
servicing. I pay 15% x £11.2K x 40% in tax = £13p.w. for the
benefit of having a brand new car, all expenses paid except
petrol. If the company decided to allocate £3,000 to me instead
of to car expenses I'd end up with £25p.w. net + £13 less tax =
£38p.w. to run a car - finance, depreciation, servicing, tax and
insurance. Actual costs as before say £60. So having the company
car is equivalent (in my case) to several percent off tax not
on.

Absolutely. I really don't think those who complain about being taxed on
a company car have ever worked out the costs of running their own - like
for like.

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*Remember: First you pillage, then you burn.

Dave Plowman London SW 12
RIP Acorn